DNOW (NYSE:DNOW) Hits New 12-Month High at $15.45

DNOW Inc. (NYSE:DNOW - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $15.45 and last traded at $15.37, with a volume of 39589 shares changing hands. The stock had previously closed at $15.25.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com cut shares of DNOW from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 28th. Susquehanna upped their price objective on DNOW from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus lifted their price objective on DNOW from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday.

DNOW Trading Down 0.3 %

The company's 50 day simple moving average is $12.40 and its 200 day simple moving average is $11.48. The stock has a market capitalization of $1.61 billion, a PE ratio of 6.78 and a beta of 1.48.

DNOW (NYSE:DNOW - Get Free Report) last released its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The firm had revenue of $555.00 million during the quarter, compared to analyst estimates of $540.83 million. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, analysts predict that DNOW Inc. will post 1.02 EPS for the current year.

Institutional Investors Weigh In On DNOW

A number of institutional investors have recently added to or reduced their stakes in DNOW. State of Wyoming purchased a new stake in shares of DNOW in the fourth quarter worth about $31,000. Quarry LP boosted its holdings in DNOW by 63.4% in the 1st quarter. Quarry LP now owns 3,144 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 1,220 shares during the period. Tower Research Capital LLC TRC grew its position in DNOW by 535.8% in the first quarter. Tower Research Capital LLC TRC now owns 3,726 shares of the oil and gas company's stock valued at $41,000 after acquiring an additional 3,140 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in DNOW during the 4th quarter valued at $42,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of DNOW during the 2nd quarter worth about $62,000. Hedge funds and other institutional investors 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.