DNOW (NYSE:DNOW) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of DNOW (NYSE:DNOW) from a hold rating to a buy rating in a research note published on Thursday morning.

Several other research analysts have also recently weighed in on DNOW. Stifel Nicolaus boosted their price objective on shares of DNOW from $16.00 to $17.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Susquehanna lowered their target price on DNOW from $15.00 to $14.00 and set a neutral rating for the company in a research note on Thursday, July 11th.

DNOW Trading Down 0.9 %

Shares of NYSE DNOW opened at $12.68 on Thursday. DNOW has a 1-year low of $9.44 and a 1-year high of $15.65. The company has a 50-day moving average of $13.69 and a two-hundred day moving average of $13.78. The company has a market cap of $1.35 billion, a PE ratio of 5.84 and a beta of 1.45.

Institutional Trading of DNOW

A number of institutional investors have recently bought and sold shares of DNOW. Allspring Global Investments Holdings LLC boosted its position in shares of DNOW by 1,062.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 2,561 shares during the last quarter. Headlands Technologies LLC acquired a new position in DNOW in the first quarter valued at about $44,000. Quarry LP boosted its holdings in DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,908 shares during the last quarter. Innealta Capital LLC bought a new position in DNOW during the second quarter worth about $67,000. Finally, CWM LLC grew its position in shares of DNOW by 144.9% during the 2nd quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock worth $93,000 after buying an additional 4,004 shares during the period. 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.