DNOW (NYSE:DNOW) Price Target Raised to $18.00 at Stifel Nicolaus

DNOW (NYSE:DNOWFree Report) had its price target hoisted by Stifel Nicolaus from $16.00 to $18.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the company. Susquehanna lifted their target price on DNOW from $11.00 to $13.00 and gave the stock a neutral rating in a report on Friday, February 16th. StockNews.com cut DNOW from a strong-buy rating to a buy rating in a report on Wednesday, February 28th.

Read Our Latest Stock Analysis on DNOW

DNOW Price Performance

Shares of DNOW opened at $15.20 on Thursday. The firm has a market cap of $1.61 billion, a P/E ratio of 6.73 and a beta of 1.48. DNOW has a 1 year low of $8.83 and a 1 year high of $15.48. The company has a 50 day simple moving average of $12.51 and a two-hundred day simple moving average of $11.51.

DNOW (NYSE:DNOWGet Free Report) last issued its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $555.00 million during the quarter, compared to analyst estimates of $540.83 million. DNOW had a net margin of 10.64% and a return on equity of 11.60%. DNOW’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, sell-side analysts anticipate that DNOW will post 1.02 earnings per share for the current year.

Institutional Investors Weigh In On DNOW

Several institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in DNOW in the fourth quarter worth $212,000. Wellington Management Group LLP raised its position in DNOW by 14.5% in the 4th quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock worth $10,487,000 after purchasing an additional 117,612 shares during the period. Goldman Sachs Group Inc. lifted its stake in DNOW by 11.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 966,974 shares of the oil and gas company’s stock worth $10,946,000 after purchasing an additional 97,378 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of DNOW by 7.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 117,475 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 8,625 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of DNOW during the fourth quarter valued at approximately $187,000. 97.63% of the stock is owned by institutional investors.

DNOW Company Profile

(Get Free Report)

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.

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