DNOW (NYSE:DNOW) Upgraded at DA Davidson

DNOW (NYSE:DNOW) was upgraded by equities researchers at DA Davidson to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

DNOW has been the topic of a number of other reports. Wall Street Zen downgraded shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Finally, Stifel Nicolaus cut their target price on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.00.

DNOW Stock Performance

Shares of DNOW opened at $13.45 on Tuesday. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -18.42 and a beta of 0.82. DNOW has a 52-week low of $10.94 and a 52-week high of $17.26. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $12.94 and a 200 day moving average price of $13.37.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The firm’s revenue for the quarter was up 97.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. Research analysts predict that DNOW will post 0.31 EPS for the current fiscal year.

Institutional Trading of DNOW

Large investors have recently bought and sold shares of the business. Covestor Ltd grew its position in DNOW by 15.7% during the 4th quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 626 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in DNOW by 1.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock valued at $603,000 after purchasing an additional 860 shares during the period. Summit Global Investments raised its holdings in shares of DNOW by 5.4% in the fourth quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 865 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of DNOW by 12.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 892 shares during the last quarter. Finally, Investors Research Corp boosted its stake in shares of DNOW by 61.1% during the fourth quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,138 shares during the period. Institutional investors and hedge funds 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.