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

StockNews.com lowered shares of DNOW (NYSE:DNOW) from a buy rating to a hold rating in a report published on Wednesday.

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

DNOW Trading Down 0.8 %

DNOW stock opened at $17.45 on Wednesday. DNOW has a 12 month low of $11.42 and a 12 month high of $18.45. The company has a 50-day moving average price of $14.13 and a 200 day moving average price of $13.49. The stock has a market cap of $1.85 billion, a PE ratio of 23.91 and a beta of 1.53.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 EPS 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%. Sell-side analysts forecast that DNOW will post 0.78 EPS for the current year.

DNOW announced that its board has initiated a stock repurchase plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the completion of the sale, the director now owns 56,568 shares in the company, valued at approximately $868,318.80. The trade was a 31.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On DNOW

Several large investors have recently modified their holdings of DNOW. Smartleaf Asset Management LLC raised its holdings in shares of DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 885 shares in the last quarter. KBC Group NV raised its stake in shares of DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares in the last quarter. Quarry LP raised its stake in shares of DNOW by 69.2% during the 4th quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 2,281 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of DNOW during the 4th quarter worth approximately $166,000. Finally, GW Henssler & Associates Ltd. bought a new position in shares of DNOW during the 3rd quarter worth approximately $182,000. Institutional investors 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.