DNOW (NYSE:DNOW) Sets New 52-Week Low – Should You Sell?

DNOW Inc. (NYSE:DNOW)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $12.56 and last traded at $14.1180, with a volume of 264950 shares changing hands. The stock had previously closed at $14.60.

Analyst Ratings Changes

Several research analysts have recently issued reports on DNOW shares. Zacks Research downgraded DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Stifel Nicolaus lowered their price target on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, DNOW has an average rating of “Hold” and a consensus target price of $18.00.

DNOW Stock Up 2.6%

The firm has a market cap of $1.60 billion, a P/E ratio of 19.66 and a beta of 1.01. The company has a 50 day moving average of $15.18 and a two-hundred day moving average of $15.07.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. DNOW had a return on equity of 8.97% and a net margin of 3.45%.During the same quarter last year, the firm posted $0.21 earnings per share. DNOW’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DNOW. Ameriprise Financial Inc. raised its stake in shares of DNOW by 376.3% in the first quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company’s stock valued at $49,802,000 after purchasing an additional 2,302,738 shares in the last quarter. First Trust Advisors LP raised its holdings in DNOW by 470.7% during the 2nd quarter. First Trust Advisors LP now owns 1,952,023 shares of the oil and gas company’s stock worth $28,949,000 after purchasing an additional 1,609,981 shares during the last quarter. Nuveen LLC acquired a new position in DNOW in the first quarter valued at approximately $18,483,000. Arrowstreet Capital Limited Partnership boosted its position in shares of DNOW by 57.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock worth $26,659,000 after purchasing an additional 654,490 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in DNOW by 354.6% during the second quarter. LSV Asset Management now owns 798,300 shares of the oil and gas company’s stock worth $11,839,000 after buying an additional 622,705 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.