Stifel Nicolaus Lowers DNOW (NYSE:DNOW) Price Target to $17.00

DNOW (NYSE:DNOW) had its price objective cut by Stifel Nicolaus from $20.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other brokerages have also commented on DNOW. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Susquehanna reduced their price objective on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th.

DNOW Price Performance

NYSE DNOW opened at $14.60 on Thursday. The company’s fifty day moving average is $15.68 and its two-hundred day moving average is $14.77. DNOW has a 52-week low of $11.42 and a 52-week high of $18.45. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 20.00 and a beta of 1.20.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $599.00 million for the quarter, compared to the consensus estimate of $587.17 million. DNOW had a return on equity of 9.04% and a net margin of 3.41%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $0.21 earnings per share. As a group, sell-side analysts expect that DNOW will post 0.86 earnings per share for the current fiscal year.

DNOW announced that its Board of Directors has approved a stock buyback plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of DNOW by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock worth $27,212,000 after purchasing an additional 25,402 shares in the last quarter. Amundi increased its holdings in shares of DNOW by 186.4% during the fourth quarter. Amundi now owns 51,501 shares of the oil and gas company’s stock worth $667,000 after buying an additional 33,520 shares in the last quarter. KBC Group NV raised its stake in shares of DNOW by 72.4% in the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock valued at $85,000 after acquiring an additional 2,754 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of DNOW by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock valued at $23,985,000 after acquiring an additional 112,135 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock worth $82,063,000 after acquiring an additional 543,403 shares in 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.