NOW (NYSE:DNOW) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of NOW (NYSE:DNOW – Get Rating) in a research note issued on Thursday. The firm set a “buy” rating on the oil and gas company’s stock.

DNOW has been the topic of a number of other research reports. Susquehanna restated a “neutral” rating and set a $14.00 target price on shares of NOW in a research report on Tuesday. TheStreet upgraded shares of NOW from a “c+” rating to a “b-” rating in a research report on Monday, December 12th.

NOW Price Performance

DNOW stock opened at $10.31 on Thursday. The company’s 50 day simple moving average is $13.01 and its 200-day simple moving average is $12.26. The firm has a market capitalization of $1.14 billion, a PE ratio of 9.12 and a beta of 1.61. NOW has a 12 month low of $8.79 and a 12 month high of $14.86.

NOW (NYSE:DNOW – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. The business had revenue of $547.00 million for the quarter, compared to analyst estimates of $530.77 million. NOW had a net margin of 5.99% and a return on equity of 13.49%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. As a group, sell-side analysts anticipate that NOW will post 1.01 earnings per share for the current year.

Hedge Funds Weigh In On NOW

Hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new position in shares of NOW in the 4th quarter valued at $31,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of NOW in the 3rd quarter valued at $36,000. Coppell Advisory Solutions Corp. purchased a new position in shares of NOW in the 4th quarter valued at $42,000. Point72 Hong Kong Ltd purchased a new position in shares of NOW in the 2nd quarter valued at $62,000. Finally, Captrust Financial Advisors raised its stake in shares of NOW by 173.7% in the 1st quarter. Captrust Financial Advisors now owns 5,973 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 3,791 shares during the period. Institutional investors and hedge funds own 95.89% of the company’s stock.

NOW Company Profile

(Get Rating)

NOW Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.