DNOW (NYSE:DNOW) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• DNOW has received a "hold (C+)" rating from Weiss Ratings, reflecting its current market position as assessed by stock analysts.
• Shares of DNOW recently traded at $15.67, with a market capitalization of $1.68 billion and an average target price of $18.00.
• Institutional investors currently own 97.63% of DNOW's stock, indicating strong institutional interest in the company.

DNOW (NYSE:DNOW - Get Free Report)'s stock had its "hold (c+)" rating restated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also issued reports on the stock. Zacks Research lowered shares of DNOW from a "strong-buy" rating to a "hold" rating in a research report on Monday. Stifel Nicolaus lowered their target price on shares of DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, DNOW presently has a consensus rating of "Hold" and an average target price of $18.00.

DNOW Price Performance

Shares of DNOW traded up $0.16 during mid-day trading on Wednesday, reaching $15.67. 778,108 shares of the company's stock were exchanged, compared to its average volume of 1,152,920. The stock has a market capitalization of $1.68 billion, a PE ratio of 20.62 and a beta of 1.05. The business's fifty day simple moving average is $15.35 and its 200-day simple moving average is $15.26. DNOW has a 52-week low of $11.54 and a 52-week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The company's revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Equities research analysts predict that DNOW will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On DNOW

A number of hedge funds and other institutional investors have recently bought and sold shares of DNOW. Brooklyn Investment Group lifted 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 acquiring an additional 1,643 shares during the period. GAMMA Investing LLC increased its position in DNOW by 122.1% during the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 1,022 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in 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 worth $36,000 after purchasing an additional 1,589 shares in the last quarter. Headlands Technologies LLC grew its holdings in DNOW by 21,663.6% in the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company's stock valued at $41,000 after buying an additional 2,383 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in DNOW in the 1st quarter valued at about $58,000. Institutional investors and hedge funds own 97.63% of the company's stock.

DNOW Company Profile

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.

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