NOW (NYSE:DNOW) had its price objective reduced by Robert W. Baird from $17.00 to $16.00 in a research note released on Friday morning. They currently have a neutral rating on the oil and gas company’s stock.
Other equities analysts also recently issued research reports about the stock. ValuEngine raised shares of NOW from a hold rating to a buy rating in a report on Thursday, August 23rd. Zacks Investment Research raised shares of NOW from a hold rating to a buy rating and set a $19.00 target price on the stock in a report on Tuesday, October 9th. Stifel Nicolaus boosted their target price on shares of NOW from $15.00 to $19.00 and gave the stock a buy rating in a report on Friday, August 3rd. Cowen initiated coverage on shares of NOW in a report on Saturday, October 13th. They issued a hold rating and a $17.00 target price on the stock. Finally, Susquehanna Bancshares set a $16.00 target price on shares of NOW and gave the stock a hold rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. NOW currently has an average rating of Hold and an average price target of $15.44.
NYSE:DNOW traded up $0.52 during trading hours on Friday, hitting $14.94. 2,536,749 shares of the stock traded hands, compared to its average volume of 1,202,303. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.72 and a quick ratio of 1.45. NOW has a 1 year low of $9.12 and a 1 year high of $18.56. The company has a market capitalization of $1.62 billion, a P/E ratio of 55.33 and a beta of 1.28.
NOW (NYSE:DNOW) last released its earnings results on Thursday, November 1st. The oil and gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. NOW had a net margin of 1.09% and a return on equity of 2.43%. The firm had revenue of $822.00 million for the quarter, compared to the consensus estimate of $805.80 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts anticipate that NOW will post 0.31 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd increased its position in NOW by 218.6% in the third quarter. WINTON GROUP Ltd now owns 669,391 shares of the oil and gas company’s stock worth $11,078,000 after purchasing an additional 459,286 shares during the last quarter. Chicago Equity Partners LLC increased its position in NOW by 439.1% in the third quarter. Chicago Equity Partners LLC now owns 666,241 shares of the oil and gas company’s stock worth $11,026,000 after purchasing an additional 542,656 shares during the last quarter. James Investment Research Inc. bought a new stake in NOW in the third quarter worth $2,081,000. First Trust Advisors LP bought a new stake in NOW in the third quarter worth $590,000. Finally, Massachusetts Financial Services Co. MA increased its position in NOW by 4.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,944,188 shares of the oil and gas company’s stock worth $98,376,000 after purchasing an additional 236,030 shares during the last quarter.
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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.
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