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

DNOW (NYSE:DNOW) had its price objective increased by Stifel Nicolaus from $16.00 to $17.00 in a research note published on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the oil and gas company’s stock.

Separately, Susquehanna decreased their price target on shares of DNOW from $15.00 to $14.00 and set a neutral rating on the stock in a research note on Thursday, July 11th.

DNOW Price Performance

DNOW opened at $14.21 on Thursday. DNOW has a fifty-two week low of $9.44 and a fifty-two week high of $15.57. The firm’s fifty day moving average price is $13.72 and its two-hundred day moving average price is $13.24. The company has a market capitalization of $1.52 billion, a P/E ratio of 6.55 and a beta of 1.45.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). DNOW had a return on equity of 10.39% and a net margin of 10.30%. The business had revenue of $563.00 million for the quarter, compared to analyst estimates of $569.15 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that DNOW will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC lifted its holdings in shares of DNOW by 0.4% during the first quarter. First Eagle Investment Management LLC now owns 258,029 shares of the oil and gas company’s stock valued at $3,922,000 after acquiring an additional 1,000 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of DNOW by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 93,060 shares of the oil and gas company’s stock valued at $1,415,000 after acquiring an additional 1,205 shares during the period. ProShare Advisors LLC lifted its holdings in shares of DNOW by 7.4% during the first quarter. ProShare Advisors LLC now owns 21,473 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 1,480 shares during the period. Nordea Investment Management AB lifted its holdings in shares of DNOW by 0.5% during the first quarter. Nordea Investment Management AB now owns 399,843 shares of the oil and gas company’s stock valued at $6,166,000 after acquiring an additional 1,947 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of DNOW by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 216,263 shares of the oil and gas company’s stock valued at $2,448,000 after acquiring an additional 2,469 shares during the period. 97.63% of the stock is owned by institutional investors.

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.