DNOW (NYSE:DNOW) Hits New 12-Month High After Analyst Upgrade

DNOW Inc. (NYSE:DNOW - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $13.00 to $16.00. Susquehanna currently has a neutral rating on the stock. DNOW traded as high as $15.54 and last traded at $15.53, with a volume of 217319 shares changing hands. The stock had previously closed at $15.16.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of DNOW from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, March 28th. StockNews.com downgraded shares of DNOW from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 28th.

Institutional Trading of DNOW

Several large investors have recently bought and sold shares of DNOW. Penn Capital Management Company LLC grew its position in DNOW by 1,333.9% during the 1st quarter. Penn Capital Management Company LLC now owns 1,209,936 shares of the oil and gas company's stock worth $11,708,000 after purchasing an additional 1,125,557 shares during the last quarter. Norges Bank acquired a new stake in DNOW during the 4th quarter valued at approximately $11,791,000. Global Alpha Capital Management Ltd. lifted its stake in DNOW by 38.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,487,826 shares of the oil and gas company's stock valued at $28,162,000 after acquiring an additional 693,500 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of DNOW by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,255,868 shares of the oil and gas company's stock valued at $69,752,000 after purchasing an additional 678,956 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of DNOW by 17.5% in the 3rd quarter. American Century Companies Inc. now owns 4,282,131 shares of the oil and gas company's stock valued at $50,829,000 after purchasing an additional 639,219 shares during the period. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Stock Performance

The firm's 50 day moving average is $13.23 and its 200-day moving average is $11.68. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 6.83 and a beta of 1.48.

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

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.