DNOW (NYSE:DNOW) Upgraded 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 published on Saturday.

A number of other research analysts have also recently issued reports on DNOW. Weiss Ratings restated a “hold (c)” rating on shares of DNOW in a report on Monday, December 29th. Susquehanna raised shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a report on Friday, November 21st. KeyCorp set a $19.00 price objective on shares of DNOW in a research report on Thursday, December 18th. Zacks Research raised DNOW from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $18.00 target price on shares of DNOW in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, DNOW presently has an average rating of “Buy” and an average price target of $17.67.

DNOW Trading Up 1.8%

DNOW stock opened at $16.45 on Friday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 18.90 and a beta of 0.79. The business has a 50-day moving average of $14.48 and a 200-day moving average of $14.61. DNOW has a 1 year low of $12.01 and a 1 year high of $17.83.

Institutional Investors Weigh In On DNOW

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. grew its holdings in DNOW by 203.4% during the second quarter. First Citizens Bank & Trust Co. now owns 49,815 shares of the oil and gas company’s stock worth $739,000 after purchasing an additional 33,396 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in DNOW by 57.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock valued at $26,659,000 after buying an additional 654,490 shares during the period. New York State Common Retirement Fund lifted its position in shares of DNOW by 25.3% in the third quarter. New York State Common Retirement Fund now owns 864,495 shares of the oil and gas company’s stock valued at $13,184,000 after buying an additional 174,544 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of DNOW by 15.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,404,668 shares of the oil and gas company’s stock worth $21,421,000 after acquiring an additional 185,727 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of DNOW by 19.3% during the 2nd quarter. American Century Companies Inc. now owns 2,389,433 shares of the oil and gas company’s stock worth $35,435,000 after acquiring an additional 386,383 shares during the last quarter. Institutional investors and hedge funds 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.