DNOW (NYSE:DNOW) Cut to Hold at Freedom Broker

Freedom Broker cut shares of DNOW (NYSE:DNOW) from a buy rating to a hold rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. Freedom Broker currently has $18.00 price target on the oil and gas company’s stock.

Other equities analysts have also issued reports about the company. Wall Street Zen upgraded DNOW from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research note on Monday, August 24th. DA Davidson raised their target price on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.20.

DNOW Stock Performance

DNOW stock opened at $15.71 on Thursday. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.84 billion, a PE ratio of -14.68 and a beta of 0.87. The firm has a fifty day simple moving average of $14.96 and a two-hundred day simple moving average of $13.43. DNOW has a twelve month low of $10.94 and a twelve month high of $17.26.

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

Institutional Trading of DNOW

Several large investors have recently added to or reduced their stakes in DNOW. Covestor Ltd raised its stake in shares of DNOW by 15.7% in the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 626 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of DNOW by 1.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock valued at $603,000 after buying an additional 860 shares during the last quarter. Summit Global Investments boosted its position in shares of DNOW by 5.4% during the fourth quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 865 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of DNOW by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 892 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in DNOW by 50.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,629 shares of the oil and gas company’s stock worth $48,000 after buying an additional 1,216 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

About DNOW

DNOW Inc (NYSE: DNOW) is a global distributor of products and services used in the energy and industrial sectors. The company supplies equipment and materials for upstream, midstream and downstream oil and gas operations, as well as for industrial and utility applications.

Its offerings include pipes, valves, fittings, flanges, gaskets, tools, production equipment, artificial-lift products, safety supplies and other maintenance, repair and operating materials. DNOW also provides supply-chain management, inventory management, logistics, procurement and other technical and field-support services designed to help customers manage equipment sourcing and distribution.

Headquartered in Houston, Texas, DNOW serves customers through a network of distribution and service locations across North America and international markets.