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

DNOW (NYSE:DNOW) had its price objective decreased by equities researchers at Susquehanna from $19.00 to $18.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price points to a potential upside of 16.96% from the company’s previous close.

DNOW has been the subject of several other research reports. Stifel Nicolaus boosted their price target on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a report on Thursday, February 27th.

DNOW Stock Up 0.1 %

NYSE:DNOW traded up $0.02 on Monday, reaching $15.39. The stock had a trading volume of 133,515 shares, compared to its average volume of 899,110. The stock has a fifty day moving average price of $15.77 and a 200-day moving average price of $14.35. DNOW has a 1-year low of $11.42 and a 1-year high of $18.45. The company has a market capitalization of $1.63 billion, a P/E ratio of 21.08 and a beta of 1.21.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate 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 predict that DNOW will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its board has authorized a stock repurchase program on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On DNOW

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its holdings in shares of DNOW by 0.8% in the fourth quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company’s stock valued at $1,303,000 after purchasing an additional 792 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in 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 buying an additional 885 shares during the last quarter. Highland Capital Management LLC lifted its position in DNOW by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock worth $228,000 after buying an additional 1,097 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock worth $2,761,000 after buying an additional 1,278 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of DNOW by 10.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after acquiring an additional 1,291 shares in the last quarter. 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.