Stifel Nicolaus Boosts DNOW (NYSE:DNOW) Price Target to $18.00

DNOW (NYSE:DNOW) had its target price increased by equities researchers at Stifel Nicolaus from $16.00 to $18.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 17.26% from the company’s current price.

A number of other analysts also recently weighed in on the stock. StockNews.com downgraded shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Susquehanna upped their price target on shares of DNOW from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 16th.

DNOW Stock Performance

Shares of DNOW traded up $0.10 on Thursday, hitting $15.35. 221,763 shares of the stock traded hands, compared to its average volume of 1,204,821. DNOW has a one year low of $8.83 and a one year high of $15.49. The company has a market capitalization of $1.63 billion, a PE ratio of 6.78 and a beta of 1.48. The business has a 50 day simple moving average of $12.40 and a 200 day simple moving average of $11.48.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. DNOW had a net margin of 10.64% and a return on equity of 11.60%. The business had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $540.83 million. During the same quarter last year, the company posted $0.25 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts expect that DNOW will post 1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in DNOW by 1.9% during the third quarter. Vanguard Group Inc. now owns 13,084,978 shares of the oil and gas company’s stock valued at $131,504,000 after purchasing an additional 242,979 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of DNOW by 12.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,255,868 shares of the oil and gas company’s stock valued at $69,752,000 after acquiring an additional 678,956 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of DNOW by 2.1% during the first quarter. Renaissance Technologies LLC now owns 5,126,979 shares of the oil and gas company’s stock valued at $56,551,000 after acquiring an additional 105,253 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of DNOW by 17.5% in the third quarter. American Century Companies Inc. now owns 4,282,131 shares of the oil and gas company’s stock valued at $50,829,000 after purchasing an additional 639,219 shares in the last quarter. Finally, State Street Corp lifted its stake in DNOW by 2.1% in the second quarter. State Street Corp now owns 4,051,649 shares of the oil and gas company’s stock worth $39,625,000 after acquiring an additional 81,846 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Company Profile

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.