DNOW (NYSE:DNOW) Stock Price Up 5.7% - What's Next?

Shares of DNOW Inc. (NYSE:DNOW - Get Free Report) traded up 5.7% during mid-day trading on Tuesday . The company traded as high as $14.89 and last traded at $14.79. 1,033,098 shares changed hands during mid-day trading, an increase of 8% from the average session volume of 956,607 shares. The stock had previously closed at $13.99.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DNOW. Stifel Nicolaus lifted their price target on DNOW from $17.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Susquehanna cut their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th.

DNOW Stock Performance

The firm has a market cap of $1.52 billion, a P/E ratio of 19.49 and a beta of 1.08. The stock has a fifty day simple moving average of $14.81 and a 200 day simple moving average of $15.05.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $599.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. Research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

Institutional Trading of DNOW

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in DNOW by 376.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company's stock worth $49,802,000 after buying an additional 2,302,738 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in DNOW by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company's stock worth $31,065,000 after purchasing an additional 128,252 shares in the last quarter. First Trust Advisors LP lifted its stake in DNOW by 0.7% in the 4th quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company's stock worth $28,585,000 after purchasing an additional 15,869 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in DNOW by 1.2% in the 4th 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, American Century Companies Inc. lifted its stake in DNOW by 16.8% in the 1st quarter. American Century Companies Inc. now owns 2,003,050 shares of the oil and gas company's stock worth $34,212,000 after purchasing an additional 288,311 shares in 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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