DNOW Inc. (NYSE:DNOW - Get Free Report) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 3,180,000 shares, a growth of 17.3% from the February 13th total of 2,710,000 shares. Based on an average trading volume of 980,800 shares, the short-interest ratio is currently 3.2 days. Approximately 3.1% of the company's stock are sold short.
Analyst Upgrades and Downgrades
Several research firms have commented on DNOW. StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. Stifel Nicolaus boosted their price target on shares of DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, February 14th.
Read Our Latest Stock Report on DNOW
Institutional Trading of DNOW
Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its position in DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after purchasing an additional 543,403 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in DNOW by 1.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company's stock valued at $33,908,000 after purchasing an additional 48,900 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in DNOW by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company's stock valued at $31,065,000 after purchasing an additional 128,252 shares during the last quarter. First Trust Advisors LP raised its position in DNOW by 0.7% in the 4th quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company's stock valued at $28,585,000 after purchasing an additional 15,869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in DNOW by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock valued at $27,212,000 after purchasing an additional 25,402 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.
DNOW Price Performance
Shares of NYSE:DNOW traded down $0.30 during trading on Friday, hitting $16.03. 5,758,217 shares of the company were exchanged, compared to its average volume of 831,646. The stock has a market capitalization of $1.69 billion, a P/E ratio of 21.96 and a beta of 1.51. DNOW has a 12-month low of $11.42 and a 12-month high of $18.45. The firm's 50 day moving average price is $15.18 and its 200-day moving average price is $13.92.
DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. As a group, equities research analysts anticipate that DNOW will post 0.86 EPS for the current year.
DNOW announced that its Board of Directors has authorized a stock repurchase program on Friday, January 24th that authorizes the company to buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.
DNOW Company Profile
(
Get Free Report)
DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical 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 artificial lift systems, coatings, and miscellaneous expendable items.
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