DNOW (NYSE:DNOW) Stock Rating Upgraded by Wall Street Zen

DNOW (NYSE:DNOW) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently issued reports on DNOW. Weiss Ratings restated a “hold (c+)” rating on shares of DNOW in a research report on Wednesday, October 8th. Stifel Nicolaus reiterated a “buy” rating and set a $18.00 price objective on shares of DNOW in a research note on Monday, November 24th. Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. KeyCorp set a $19.00 target price on DNOW in a research note on Thursday. Finally, Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a research report on Friday, November 21st. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

DNOW Trading Up 1.8%

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

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

Hedge Funds Weigh In On DNOW

Large investors have recently bought and sold shares of the business. Brooklyn Investment Group grew its holdings in DNOW by 2,650.0% in the first quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,643 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of DNOW by 190.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,589 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in DNOW by 2,101.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 2,501 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in DNOW in the 3rd quarter valued at $44,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in DNOW in the 1st quarter worth $63,000. 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.