DNOW (NYSE:DNOW) Hits New 1-Year High at $15.45

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of DNOW from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, February 16th. StockNews.com lowered DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Susquehanna raised their target price on shares of DNOW from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, February 16th.

DNOW Stock Performance

The stock has a fifty day moving average price of $12.40 and a 200 day moving average price of $11.48. The stock has a market cap of $1.63 billion, a PE ratio of 6.76 and a beta of 1.48.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping 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 net margin of 10.64% and a return on equity of 11.60%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. As a group, equities analysts anticipate that DNOW Inc. will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DNOW

Several hedge funds have recently bought and sold shares of DNOW. Bank of New York Mellon Corp boosted its position in DNOW by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,119,251 shares of the oil and gas company’s stock valued at $12,345,000 after buying an additional 30,031 shares during the period. Citigroup Inc. boosted its holdings in shares of DNOW by 5.1% in the first quarter. Citigroup Inc. now owns 105,268 shares of the oil and gas company’s stock valued at $1,161,000 after purchasing an additional 5,070 shares during the period. PNC Financial Services Group Inc. grew its stake in DNOW by 60.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,546 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of DNOW by 63.5% in the 1st quarter. MetLife Investment Management LLC now owns 57,892 shares of the oil and gas company’s stock worth $639,000 after buying an additional 22,488 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in DNOW by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,313 shares of the oil and gas company’s stock worth $1,051,000 after acquiring an additional 11,752 shares during the period. 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.