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

DNOW (NYSE:DNOW) had its price objective hoisted by investment analysts at Stifel Nicolaus from $16.00 to $18.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 17.26% from the company’s previous close.

Several other equities analysts have also recently commented on DNOW. Susquehanna boosted their price target on shares of DNOW from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 16th. StockNews.com lowered shares of DNOW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th.

DNOW Stock Performance

Shares of NYSE DNOW traded up $0.10 during midday trading on Thursday, reaching $15.35. 221,763 shares of the company’s stock were exchanged, compared to its average volume of 1,204,821. The stock has a market capitalization of $1.63 billion, a PE ratio of 6.78 and a beta of 1.48. DNOW has a 52-week low of $8.83 and a 52-week high of $15.49. The business’s fifty day moving average price is $12.40 and its two-hundred day moving average price is $11.48.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The firm had revenue of $555.00 million during the quarter, compared to analyst estimates of $540.83 million. During the same period in the previous year, the company earned $0.25 earnings per share. DNOW’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts predict that DNOW will post 1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DNOW

A number of hedge funds have recently added to or reduced their stakes in DNOW. Bank of New York Mellon Corp increased its position in shares of DNOW by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 1,119,251 shares of the oil and gas company’s stock valued at $12,345,000 after acquiring an additional 30,031 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of DNOW by 5.1% in the 1st quarter. Citigroup Inc. now owns 105,268 shares of the oil and gas company’s stock worth $1,161,000 after buying an additional 5,070 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in DNOW by 60.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock worth $75,000 after buying an additional 2,546 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of DNOW by 63.5% in the 1st quarter. MetLife Investment Management LLC now owns 57,892 shares of the oil and gas company’s stock worth $639,000 after purchasing an additional 22,488 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in DNOW by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,313 shares of the oil and gas company’s stock worth $1,051,000 after purchasing an additional 11,752 shares during the period. Institutional investors and hedge funds 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.