Susquehanna Lowers DNOW (NYSE:DNOW) Price Target to $15.00

DNOW (NYSE:DNOWGet Free Report) had its price target reduced by research analysts at Susquehanna from $16.00 to $15.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price would suggest a potential upside of 12.95% from the stock’s previous close.

A number of other brokerages also recently commented on DNOW. StockNews.com downgraded shares of DNOW from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Stifel Nicolaus increased their price objective on DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th.

Get Our Latest Stock Analysis on DNOW

DNOW Stock Down 10.7 %

Shares of NYSE DNOW opened at $13.28 on Monday. DNOW has a 52 week low of $8.83 and a 52 week high of $15.57. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 6.12 and a beta of 1.48. The firm has a 50-day simple moving average of $14.72 and a 200-day simple moving average of $12.18.

DNOW (NYSE:DNOWGet Free Report) last released its earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $569.15 million. DNOW had a return on equity of 10.39% and a net margin of 10.30%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. As a group, equities research analysts expect that DNOW will post 1.04 EPS for the current year.

Hedge Funds Weigh In On DNOW

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of DNOW in the first quarter valued at approximately $44,000. Cornerstone Investment Partners LLC purchased a new position in DNOW in the 1st quarter valued at approximately $176,000. Oppenheimer & Co. Inc. grew its stake in shares of DNOW by 25.4% in the third quarter. Oppenheimer & Co. Inc. now owns 13,666 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 2,772 shares in the last quarter. Summit Global Investments increased its position in shares of DNOW by 21.0% during the fourth quarter. Summit Global Investments now owns 16,726 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 2,900 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of DNOW in the fourth quarter valued at $212,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

About DNOW

(Get Free Report)

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.

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