DNOW (NYSE:DNOW) Given Hold Rating at Freedom Broker

DNOW (NYSE:DNOW)‘s stock had its “hold” rating reaffirmed by research analysts at Freedom Broker in a report issued on Thursday, Benzinga reports. They currently have a $18.00 price objective on the oil and gas company’s stock. Freedom Broker’s target price indicates a potential upside of 11.65% from the stock’s current price.

Other equities analysts have also issued reports about the stock. DA Davidson increased their price objective on shares of DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Susquehanna boosted their target price on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a report on Monday, August 24th. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. Finally, Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, DNOW has a consensus rating of “Moderate Buy” and a consensus target price of $18.20.

DNOW Stock Down 0.2%

DNOW stock opened at $16.12 on Thursday. DNOW has a 1-year low of $10.94 and a 1-year high of $17.26. The business has a fifty day moving average price of $14.84 and a 200-day moving average price of $13.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.06. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -15.07 and a beta of 0.87.

DNOW (NYSE:DNOW) last announced its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 108.1% compared to the same quarter last year. Equities research analysts forecast that DNOW will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On DNOW

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of DNOW during the 2nd quarter valued at about $374,942,000. Wellington Management Group LLP boosted its stake in shares of DNOW by 187.2% in the fourth quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after buying an additional 7,048,382 shares during the last quarter. Engine Capital Management LP purchased a new stake in shares of DNOW in the first quarter worth about $61,525,000. Boston Partners acquired a new stake in DNOW during the third quarter worth about $72,302,000. Finally, Pzena Investment Management LLC acquired a new stake in DNOW during the fourth quarter worth about $55,135,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.