DNOW (NYSE:DNOW) Upgraded at Freedom Broker

Freedom Broker upgraded shares of DNOW (NYSE:DNOW) from a hold rating to a buy rating in a research report sent to investors on Monday, Marketbeat.com reports. They currently have $18.00 price target on the oil and gas company’s stock.

A number of other analysts have also recently commented on the company. Susquehanna lowered their price target on DNOW from $19.00 to $18.00 and set a “positive” rating for the company in a research report on Friday, November 6th. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded DNOW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, DA Davidson raised their price objective on DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

DNOW Trading Up 4.0%

NYSE DNOW opened at $14.28 on Monday. The company has a fifty day simple moving average of $15.59 and a two-hundred day simple moving average of $14.10. The stock has a market cap of $2.57 billion, a P/E ratio of -12.31 and a beta of 0.95. DNOW has a 12-month low of $10.94 and a 12-month high of $17.26. The company has a current ratio of 2.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.18.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, November 5th. The oil and gas company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. DNOW had a negative net margin of 3.89% and a positive return on equity of 3.77%. The business’s revenue for the quarter was up 110.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, analysts forecast that DNOW will post 0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNOW. Global Retirement Partners LLC boosted its stake in shares of DNOW by 7,064.7% in the third quarter. Global Retirement Partners LLC now owns 8,311 shares of the oil and gas company’s stock worth $129,000 after buying an additional 8,195 shares during the last quarter. Edgestream Partners L.P. purchased a new position in DNOW during the third quarter valued at approximately $9,113,000. Teachers Retirement System of The State of Kentucky raised its position in DNOW by 3.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 235,479 shares of the oil and gas company’s stock valued at $3,651,000 after acquiring an additional 7,465 shares in the last quarter. HighTower Advisors LLC acquired a new position in DNOW in the third quarter valued at approximately $296,000. Finally, Intech Investment Management LLC lifted its holdings in DNOW by 27.6% in the third quarter. Intech Investment Management LLC now owns 51,486 shares of the oil and gas company’s stock valued at $798,000 after acquiring an additional 11,127 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Company Profile

DNOW Inc. (NYSE: DNOW) distributes products and provides supply-chain and related services to energy and industrial customers. Its offerings include pipe, valves, fittings, flanges, instrumentation, electrical products, and safety and maintenance supplies. The company supports customers across the energy value chain, including upstream, midstream, and downstream operations, as well as other industrial markets. Its services include procurement, inventory management, logistics, and technical support, with operations serving customers in North America and international markets.