DNOW (NYSE:DNOW) Earns Buy Rating from Stifel Nicolaus

DNOW (NYSE:DNOW)‘s stock had its “buy” rating reissued by Stifel Nicolaus in a report issued on Monday,Benzinga reports. They currently have a $18.00 price target on the oil and gas company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 29.13% from the stock’s previous close.

DNOW has been the subject of a number of other reports. Zacks Research cut shares of DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

DNOW Price Performance

NYSE DNOW opened at $13.94 on Monday. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 16.02 and a beta of 1.01. The company has a 50 day simple moving average of $14.40 and a 200-day simple moving average of $14.79. DNOW has a 52-week low of $12.01 and a 52-week high of $18.45.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $634.00 million for the quarter, compared to analyst estimates of $637.13 million. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. On average, analysts predict that DNOW will post 0.86 EPS for the current year.

Institutional Investors Weigh In On DNOW

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of DNOW by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock valued at $98,421,000 after purchasing an additional 42,878 shares during the period. Boston Partners acquired a new position in DNOW during the third quarter worth $72,302,000. Wellington Management Group LLP lifted its holdings in shares of DNOW by 260.2% during the third quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock valued at $57,414,000 after acquiring an additional 2,719,594 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of DNOW by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock valued at $44,300,000 after purchasing an additional 72,517 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of DNOW by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock worth $37,437,000 after purchasing an additional 32,317 shares in the last quarter. 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.