DNOW (NYSE:DNOW) Trading Up 5.7% - Still a Buy?

DNOW Inc. (NYSE:DNOW - Get Free Report)'s share price shot up 5.7% during trading on Tuesday . The company traded as high as $14.89 and last traded at $14.79. 1,033,098 shares traded hands during 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

DNOW has been the subject of a number of recent research reports. Susquehanna lowered their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Stifel Nicolaus raised their target price on shares of DNOW from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Wall Street Zen upgraded shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th.

DNOW Stock Down 0.4%

The business's fifty day moving average is $14.74 and its 200-day moving average is $15.06. The stock has a market capitalization of $1.56 billion, a PE ratio of 19.96 and a beta of 1.08.

DNOW (NYSE:DNOW - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The firm had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same period in the previous year, the firm earned $0.21 earnings per share. DNOW's revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Institutional Trading of DNOW

A number of institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of DNOW by 376.3% during 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 purchasing an additional 2,302,738 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 acquiring an additional 128,252 shares during the period. First Trust Advisors LP boosted its holdings 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 acquiring an additional 15,869 shares during the period. American Century Companies Inc. boosted its holdings 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 acquiring an additional 288,311 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in DNOW by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock worth $23,985,000 after acquiring an additional 112,135 shares during the period. 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.