NOW (DNOW) Trading Down 5.2%

NOW Inc (NYSE:DNOW) fell 5.2% during mid-day trading on Monday . The stock traded as low as $13.40 and last traded at $13.50. 639,689 shares were traded during mid-day trading, a decline of 14% from the average session volume of 744,155 shares. The stock had previously closed at $14.24.

Separately, Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, January 15th. Seven equities research analysts have rated the stock with a hold rating, NOW currently has an average rating of “Hold” and an average target price of $15.40.

The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 37.76 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.30 and a current ratio of 2.64.

NOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $785.00 million for the quarter, compared to analysts’ expectations of $772.54 million. NOW had a net margin of 2.16% and a return on equity of 4.19%. NOW’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, research analysts predict that NOW Inc will post 0.42 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. FMR LLC raised its stake in shares of NOW by 54.3% during the fourth quarter. FMR LLC now owns 2,199 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 774 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of NOW during the first quarter valued at approximately $66,000. Icon Wealth Partners LLC purchased a new stake in shares of NOW during the first quarter valued at approximately $91,000. First Hawaiian Bank raised its stake in shares of NOW by 27.6% during the fourth quarter. First Hawaiian Bank now owns 6,581 shares of the oil and gas company’s stock valued at $77,000 after purchasing an additional 1,425 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of NOW during the first quarter valued at approximately $113,000.

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About NOW (NYSE:DNOW)

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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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