DNOW (NYSE:DNOW) Price Target Raised to $17.00 at Stifel Nicolaus

DNOW (NYSE:DNOW) had its target price raised by Stifel Nicolaus from $16.00 to $17.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Separately, Susquehanna decreased their price objective on DNOW from $15.00 to $14.00 and set a neutral rating on the stock in a report on Thursday, July 11th.

DNOW Price Performance

Shares of NYSE DNOW opened at $14.21 on Thursday. The stock’s fifty day moving average price is $13.72 and its two-hundred day moving average price is $13.24. DNOW has a one year low of $9.44 and a one year high of $15.57. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 6.55 and a beta of 1.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Friday, May 10th. The oil and gas company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). DNOW had a net margin of 10.30% and a return on equity of 10.39%. The firm had revenue of $563.00 million during the quarter, compared to analyst estimates of $569.15 million. During the same period in the prior year, the company earned $0.25 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that DNOW will post 1.06 earnings per share for the current fiscal year.

Institutional Trading of DNOW

Several large investors have recently modified their holdings of DNOW. Norges Bank acquired a new stake in shares of DNOW during the 4th quarter worth $8,312,000. Global Alpha Capital Management Ltd. grew its holdings in shares of DNOW by 38.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,487,826 shares of the oil and gas company’s stock worth $28,162,000 after purchasing an additional 693,500 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of DNOW by 123.5% during the 3rd quarter. Wellington Management Group LLP now owns 808,800 shares of the oil and gas company’s stock worth $9,600,000 after purchasing an additional 447,000 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in DNOW in the first quarter valued at about $4,571,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in DNOW in the first quarter valued at about $4,241,000. 97.63% of the stock is owned by institutional investors and hedge funds.

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.