DNOW (NYSE:DNOW) Given New $18.00 Price Target at Susquehanna

DNOW (NYSE:DNOW) had its target price trimmed by Susquehanna from $19.00 to $18.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Several other research analysts have also issued reports on the stock. Stifel Nicolaus increased their price target on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th.

DNOW Trading Down 0.8 %

Shares of NYSE:DNOW opened at $15.25 on Monday. The business’s 50 day moving average is $15.78 and its 200-day moving average is $14.36. The firm has a market capitalization of $1.61 billion, a PE ratio of 20.89 and a beta of 1.21. DNOW has a 1-year low of $11.42 and a 1-year high of $18.45.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping 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, sell-side analysts predict that DNOW will post 0.86 EPS for the current year.

DNOW declared that its Board of Directors has initiated a stock repurchase plan on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On DNOW

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNOW. HighTower Advisors LLC grew its position in DNOW by 9.7% during the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock worth $211,000 after acquiring an additional 1,458 shares during the last quarter. Barclays PLC boosted its stake in DNOW by 44.6% in the third quarter. Barclays PLC now owns 346,657 shares of the oil and gas company’s stock worth $4,484,000 after purchasing an additional 106,927 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of DNOW by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 1,291 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of DNOW by 0.6% in the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after buying an additional 1,278 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of DNOW by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company’s stock valued at $22,388,000 after buying an additional 54,660 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.