DNOW (NYSE:DNOW) Shares Gap Up on Analyst Upgrade

DNOW Inc. (NYSE:DNOW - Get Free Report) shares gapped up before the market opened on Friday after Stifel Nicolaus raised their price target on the stock from $17.00 to $19.00. The stock had previously closed at $15.06, but opened at $15.74. Stifel Nicolaus currently has a buy rating on the stock. DNOW shares last traded at $16.42, with a volume of 814,714 shares changing hands.

A number of other brokerages have also issued reports on DNOW. Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Susquehanna dropped their price objective 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.

Institutional Trading of DNOW

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of DNOW by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 513,304 shares of the oil and gas company's stock worth $6,678,000 after acquiring an additional 11,441 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 885 shares in the last quarter. Bailard Inc. acquired a new position in DNOW in the 4th quarter worth about $511,000. Charles Schwab Investment Management Inc. boosted its position in DNOW by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock worth $27,212,000 after purchasing an additional 25,402 shares in the last quarter. Finally, Carrera Capital Advisors acquired a new stake in DNOW in the fourth quarter valued at approximately $1,145,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Down 6.3%

The firm has a market capitalization of $1.57 billion, a PE ratio of 20.04 and a beta of 1.09. The stock has a 50-day moving average price of $15.18 and a 200 day moving average price of $15.00.

DNOW (NYSE:DNOW - Get Free Report) last announced its 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. The business had revenue of $599.00 million during the quarter, compared to analysts' expectations of $587.17 million. DNOW had a return on equity of 9.00% and a net margin of 3.40%. The business's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, equities analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

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.