DNOW (NYSE:DNOW) Downgraded by Wall Street Zen to Buy

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

DNOW has been the topic of several other research reports. Susquehanna raised shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target on the stock in a research report on Friday, November 21st. KeyCorp set a $19.00 target price on shares of DNOW in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of DNOW in a research report on Monday, December 29th. Stifel Nicolaus reduced their price target on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.00.

DNOW Stock Down 0.7%

Shares of NYSE DNOW opened at $11.78 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.34 and a quick ratio of 1.11. The stock has a market capitalization of $1.24 billion, a PE ratio of -40.61 and a beta of 0.79. DNOW has a one year low of $11.55 and a one year high of $17.48. The business’s fifty day moving average price is $14.38 and its 200-day moving average price is $14.53.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The business had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $969.50 million. DNOW had a positive return on equity of 7.26% and a negative net margin of 2.66%.The firm’s quarterly revenue was up 68.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. On average, equities research analysts anticipate that DNOW will post 0.86 EPS for the current year.

Institutional Investors Weigh In On DNOW

Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in DNOW in the 4th quarter worth about $25,000. Quarry LP grew its holdings in shares of DNOW by 712.6% during the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,703 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of DNOW by 132.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,383 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in DNOW by 190.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Arax Advisory Partners raised its stake in DNOW by 336.3% in the fourth quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 2,156 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

DNOW Company Profile

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.