DNOW (NYSE:DNOW) Hits New 12-Month High at $15.45

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

Analyst Ratings Changes

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

DNOW Price Performance

The stock has a market cap of $1.63 billion, a P/E ratio of 6.76 and a beta of 1.48. The firm’s 50-day moving average price is $12.40 and its 200-day moving average price is $11.48.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The business had revenue of $555.00 million for the quarter, compared to the consensus estimate of $540.83 million. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts expect that DNOW Inc. will post 1.02 earnings per share for the current year.

Institutional Trading of DNOW

Large investors have recently modified their holdings of the company. State of Wyoming purchased a new position in shares of DNOW in the 4th quarter valued at $31,000. Quarry LP lifted its position in shares of DNOW by 63.4% during the first quarter. Quarry LP now owns 3,144 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 1,220 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of DNOW in the 4th quarter valued at about $42,000. Tower Research Capital LLC TRC grew its position in shares of DNOW by 535.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,726 shares of the oil and gas company’s stock worth $41,000 after buying an additional 3,140 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of DNOW by 173.7% during the 1st quarter. Captrust Financial Advisors now owns 5,973 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 3,791 shares in the last quarter. Hedge funds and other 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.