NOW (NYSE:DNOW) Upgraded to “Overweight” at Capital One Financial

Capital One Financial upgraded shares of NOW (NYSE:DNOW) from an equal weight rating to an overweight rating in a research report sent to investors on Friday, The Fly reports.

Several other research firms also recently issued reports on DNOW. Stifel Nicolaus decreased their price objective on shares of NOW from $15.00 to $14.00 and set a hold rating for the company in a research note on Monday, July 15th. Zacks Investment Research downgraded shares of NOW from a buy rating to a hold rating in a research note on Wednesday, July 24th. Finally, ValuEngine downgraded shares of NOW from a hold rating to a sell rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. NOW has a consensus rating of Hold and a consensus target price of $15.20.

NOW stock traded up $0.80 during trading on Friday, reaching $12.23. The company had a trading volume of 2,203,770 shares, compared to its average volume of 805,360. NOW has a 12-month low of $10.36 and a 12-month high of $18.56. The business’s 50 day moving average price is $13.40. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 33.97 and a beta of 1.42. The company has a quick ratio of 1.30, a current ratio of 2.64 and a debt-to-equity ratio of 0.13.

NOW (NYSE:DNOW) last released its earnings results on Friday, August 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. NOW had a net margin of 2.16% and a return on equity of 4.19%. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $767.19 million. During the same period in the previous year, the firm earned $0.10 earnings per share. NOW’s revenue was down .1% compared to the same quarter last year. Equities analysts expect that NOW will post 0.43 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNOW. Dimensional Fund Advisors LP lifted its position in shares of NOW by 12.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,670,835 shares of the oil and gas company’s stock worth $100,928,000 after purchasing an additional 931,341 shares in the last quarter. Norges Bank acquired a new position in shares of NOW during the fourth quarter worth $7,317,000. JPMorgan Chase & Co. lifted its position in shares of NOW by 32.7% during the first quarter. JPMorgan Chase & Co. now owns 1,825,478 shares of the oil and gas company’s stock worth $25,483,000 after purchasing an additional 449,971 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of NOW by 4.1% during the first quarter. Clearbridge Investments LLC now owns 9,467,335 shares of the oil and gas company’s stock worth $132,164,000 after purchasing an additional 375,350 shares in the last quarter. Finally, Marathon Asset Management LLP lifted its position in shares of NOW by 34.2% during the second quarter. Marathon Asset Management LLP now owns 1,133,661 shares of the oil and gas company’s stock worth $16,732,000 after purchasing an additional 289,033 shares in the last quarter.

About NOW

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.

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