DNOW (NYSE:DNOW) Sees Strong Trading Volume - Should You Buy?

DNOW Inc. (NYSE:DNOW - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,659,635 shares changed hands during trading, an increase of 77% from the previous session's volume of 935,218 shares.The stock last traded at $11.78 and had previously closed at $11.65.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DNOW. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Stifel Nicolaus upped their price target on DNOW from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Finally, Susquehanna dropped their price objective on shares of DNOW from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, July 11th.

DNOW Price Performance

The stock's fifty day simple moving average is $12.51 and its two-hundred day simple moving average is $13.42. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 5.62 and a beta of 1.43.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $633.00 million during the quarter, compared to the consensus estimate of $638.20 million. DNOW had a return on equity of 9.93% and a net margin of 9.70%. On average, sell-side analysts predict that DNOW Inc. will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings in shares of DNOW by 71.5% in the second quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company's stock valued at $96,768,000 after acquiring an additional 2,939,502 shares in the last quarter. American Century Companies Inc. boosted its stake in DNOW by 141.2% during the 2nd quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company's stock valued at $21,532,000 after purchasing an additional 918,131 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of DNOW by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company's stock valued at $88,511,000 after purchasing an additional 390,671 shares during the period. Acadian Asset Management LLC bought a new stake in shares of DNOW in the 1st quarter worth $4,571,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of DNOW in the first quarter valued at $4,241,000. Institutional investors and hedge funds own 97.63% of the company's stock.

About DNOW

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.