DNOW (NYSE:DNOW) Downgraded to “Hold” Rating by StockNews.com

DNOW (NYSE:DNOW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Stifel Nicolaus upped their price objective on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 14th.

DNOW Stock Up 0.6 %

DNOW stock opened at $17.52 on Wednesday. DNOW has a 52-week low of $11.42 and a 52-week high of $18.45. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 24.00 and a beta of 1.53. The company has a fifty day simple moving average of $14.18 and a 200-day simple moving average of $13.52.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. On average, research analysts anticipate that DNOW will post 0.86 EPS for the current fiscal year.

DNOW declared that its Board of Directors has authorized a stock buyback program on Friday, January 24th that authorizes the company to buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the transaction, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DNOW. PharVision Advisers LLC acquired a new stake in shares of DNOW during the fourth quarter worth about $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of DNOW by 3.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 233,911 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 8,610 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of DNOW by 360.7% during the fourth quarter. Voloridge Investment Management LLC now owns 208,250 shares of the oil and gas company’s stock worth $2,709,000 after purchasing an additional 163,044 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of DNOW by 117.4% during the fourth quarter. Two Sigma Investments LP now owns 307,712 shares of the oil and gas company’s stock worth $4,003,000 after purchasing an additional 166,166 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of DNOW by 117.8% during the fourth quarter. State of Wyoming now owns 24,507 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 13,257 shares in the last quarter. Hedge funds and other institutional investors 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.