DNOW (NYSE:DNOW) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of DNOW (NYSE:DNOW) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

A number of other research firms also recently commented on DNOW. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price on the stock in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. Zacks Research downgraded DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Stifel Nicolaus restated a “buy” rating and issued a $18.00 price target on shares of DNOW in a research report on Monday, November 24th. Finally, KeyCorp set a $19.00 price target on shares of DNOW in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DNOW currently has an average rating of “Moderate Buy” and an average target price of $17.67.

DNOW Trading Up 1.8%

NYSE DNOW opened at $13.68 on Friday. DNOW has a 12 month low of $12.01 and a 12 month high of $18.45. The stock’s 50 day moving average is $13.91 and its 200 day moving average is $14.68. The stock has a market cap of $1.44 billion, a PE ratio of 15.72 and a beta of 0.81.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The firm had revenue of $634.00 million for the quarter, compared to analysts’ expectations of $637.13 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts forecast that DNOW will post 0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On DNOW

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of DNOW by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock valued at $98,421,000 after buying an additional 42,878 shares during the last quarter. Boston Partners purchased a new position in DNOW during the 3rd quarter valued at $72,302,000. Wellington Management Group LLP grew its position in DNOW by 260.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock valued at $57,414,000 after acquiring an additional 2,719,594 shares during the last quarter. Ameriprise Financial Inc. increased its stake in DNOW by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock worth $44,300,000 after purchasing an additional 72,517 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of DNOW by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock worth $37,437,000 after purchasing an additional 32,317 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

About DNOW

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.