Northland Securities began coverage on shares of NOW (NYSE:DNOW) in a research note released on Friday morning, AnalystRatings.com reports. The brokerage issued a buy rating and a $9.50 price objective on the oil and gas company’s stock.
Several other brokerages have also recently issued reports on DNOW. Cowen raised NOW from a market perform rating to an outperform rating and set a $8.00 price objective for the company in a report on Tuesday, April 14th. KeyCorp reduced their price objective on NOW from $18.00 to $14.00 and set an overweight rating for the company in a report on Friday, March 20th. ValuEngine raised NOW from a hold rating to a buy rating in a report on Thursday, May 7th. Finally, Stephens reaffirmed an overweight rating and set a $9.00 price objective (down from $12.00) on shares of NOW in a report on Friday, April 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $11.93.
DNOW opened at $8.45 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.65 and a quick ratio of 1.52. The business has a 50 day simple moving average of $8.20 and a 200-day simple moving average of $8.20. The stock has a market capitalization of $923.65 million, a P/E ratio of -2.07 and a beta of 1.89. NOW has a 12 month low of $4.05 and a 12 month high of $13.81.
NOW (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $604.00 million during the quarter, compared to analyst estimates of $622.12 million. NOW had a negative net margin of 16.10% and a positive return on equity of 0.45%. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. Research analysts anticipate that NOW will post -0.87 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management LLC purchased a new position in NOW during the first quarter worth $53,000. Two Sigma Advisers LP increased its position in NOW by 98.1% during the first quarter. Two Sigma Advisers LP now owns 375,400 shares of the oil and gas company’s stock worth $1,937,000 after buying an additional 185,900 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in NOW by 121.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 732,968 shares of the oil and gas company’s stock worth $8,239,000 after buying an additional 401,849 shares in the last quarter. Goldman Sachs Group Inc. increased its position in NOW by 23.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 809,154 shares of the oil and gas company’s stock worth $9,095,000 after buying an additional 152,447 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in NOW by 80.0% during the first quarter. BNP Paribas Arbitrage SA now owns 66,126 shares of the oil and gas company’s stock worth $341,000 after buying an additional 29,382 shares in the last quarter. 99.36% of the stock is owned by institutional investors.
NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, 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 applied products and applications, such as artificial lift systems, coatings, and other expendable items.
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