DNOW (NYSE:DNOW) Shares Gap Up - What's Next?

DNOW Inc. (NYSE:DNOW - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $15.06, but opened at $15.74. DNOW shares last traded at $16.42, with a volume of 814,714 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on DNOW. Susquehanna lowered their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Stifel Nicolaus dropped their price target on shares of DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

DNOW Trading Up 8.0%

The stock's 50-day moving average price is $15.18 and its two-hundred day moving average price is $14.99. The stock has a market capitalization of $1.72 billion, a P/E ratio of 21.98 and a beta of 1.09.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. DNOW had a return on equity of 9.00% and a net margin of 3.40%. The firm had revenue of $599.00 million for the quarter, compared to analysts' expectations of $587.17 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On DNOW

Institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in shares of DNOW by 376.3% in the first quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company's stock worth $49,802,000 after purchasing an additional 2,302,738 shares during the period. Nuveen LLC purchased a new position in shares of DNOW during the first quarter worth about $18,483,000. Jane Street Group LLC grew its holdings in shares of DNOW by 210.8% during the first quarter. Jane Street Group LLC now owns 738,843 shares of the oil and gas company's stock worth $12,619,000 after purchasing an additional 501,088 shares in the last quarter. Allianz Asset Management GmbH raised its stake in DNOW by 72.2% in the first quarter. Allianz Asset Management GmbH now owns 1,158,105 shares of the oil and gas company's stock valued at $19,780,000 after purchasing an additional 485,650 shares in the last quarter. Finally, Algert Global LLC lifted its position in DNOW by 325.4% during the first quarter. Algert Global LLC now owns 472,779 shares of the oil and gas company's stock valued at $8,075,000 after purchasing an additional 361,642 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

About DNOW

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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