DNOW (NYSE:DNOW) Shares Down 2.3% After Analyst Downgrade

DNOW Inc. (NYSE:DNOW - Get Free Report)'s stock price traded down 2.3% during mid-day trading on Tuesday after Susquehanna lowered their price target on the stock from $16.00 to $15.00. Susquehanna currently has a neutral rating on the stock. DNOW traded as low as $13.27 and last traded at $13.46. 231,832 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,049,386 shares. The stock had previously closed at $13.78.

Several other research firms have also weighed in on DNOW. Stifel Nicolaus raised their price objective on shares of DNOW from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, March 28th. StockNews.com cut shares of DNOW from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 28th.

Institutional Investors Weigh In On DNOW

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in DNOW by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,095,429 shares of the oil and gas company's stock valued at $69,001,000 after buying an additional 161,840 shares during the last quarter. American Century Companies Inc. increased its stake in shares of DNOW by 17.5% during the 3rd quarter. American Century Companies Inc. now owns 4,282,131 shares of the oil and gas company's stock worth $50,829,000 after purchasing an additional 639,219 shares during the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of 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 worth $28,162,000 after purchasing an additional 693,500 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of DNOW by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,989,506 shares of the oil and gas company's stock worth $22,521,000 after purchasing an additional 49,310 shares during the last quarter. Finally, Penn Capital Management Company LLC increased its stake in shares of DNOW by 8.4% during the 4th quarter. Penn Capital Management Company LLC now owns 1,325,085 shares of the oil and gas company's stock worth $15,038,000 after purchasing an additional 102,484 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Trading Down 0.5 %

The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 6.32 and a beta of 1.48. The firm's 50 day moving average price is $14.70 and its two-hundred day moving average price is $12.22.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Friday, May 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.02). DNOW had a net margin of 10.30% and a return on equity of 10.39%. The business had revenue of $563.00 million during the quarter, compared to the consensus estimate of $569.15 million. During the same period in the prior year, the firm earned $0.25 EPS. The business's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts predict that DNOW Inc. will post 1.04 EPS 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.