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

DNOW (NYSE:DNOW) had its price objective decreased by Stifel Nicolaus from $19.00 to $18.00 in a research report released on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the oil and gas company’s stock.

Several other analysts also recently commented on DNOW. Susquehanna decreased their target price on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Saturday, April 26th.

DNOW Stock Down 0.7%

Shares of DNOW stock opened at $14.81 on Monday. The stock’s fifty day moving average is $14.74 and its 200-day moving average is $15.10. The firm has a market capitalization of $1.56 billion, a PE ratio of 20.01 and a beta of 1.08. DNOW has a 12-month low of $11.42 and a 12-month high of $18.45.

DNOW (NYSE:DNOW) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $587.17 million. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. Analysts expect that DNOW will post 0.86 EPS for the current year.

Hedge Funds Weigh In On DNOW

Large investors have recently made changes to their positions in the stock. Brooklyn Investment Group grew its stake in shares of DNOW by 2,650.0% during the 1st quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,643 shares during the period. GAMMA Investing LLC raised its holdings in DNOW by 122.1% during the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,022 shares during the period. Headlands Technologies LLC grew its position in shares of DNOW by 21,663.6% during the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock worth $41,000 after buying an additional 2,383 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in DNOW during the first quarter valued at about $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of DNOW in the 1st quarter valued at $63,000. 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.