DNOW (NYSE:DNOW) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

DNOW (NYSE:DNOW) had its price objective lifted by Stifel Nicolaus from $17.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.49% from the stock’s previous close.

DNOW Stock Performance

DNOW opened at $17.17 on Friday. The firm has a 50 day moving average price of $13.97 and a 200 day moving average price of $13.44. The company has a market cap of $1.82 billion, a PE ratio of 9.18 and a beta of 1.53. DNOW has a 1 year low of $10.75 and a 1 year high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 8.70% and a return on equity of 8.90%. On average, sell-side analysts predict that DNOW will post 0.81 earnings per share for the current year.

DNOW announced that its Board of Directors has initiated a stock buyback plan on Friday, January 24th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the sale, the director now owns 56,568 shares of the company’s stock, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of DNOW

A number of hedge funds have recently made changes to their positions in DNOW. nVerses Capital LLC acquired a new stake in shares of DNOW during the third quarter worth approximately $78,000. Inspire Advisors LLC grew its position in shares of DNOW by 84.0% during the third quarter. Inspire Advisors LLC now owns 26,331 shares of the oil and gas company’s stock worth $340,000 after buying an additional 12,017 shares in the last quarter. Highland Capital Management LLC grew its position in shares of DNOW by 11.3% during the third quarter. Highland Capital Management LLC now owns 16,417 shares of the oil and gas company’s stock worth $212,000 after buying an additional 1,669 shares in the last quarter. GW Henssler & Associates Ltd. acquired a new stake in shares of DNOW during the third quarter worth approximately $182,000. Finally, Olympiad Research LP grew its position in shares of DNOW by 32.1% during the third quarter. Olympiad Research LP now owns 22,355 shares of the oil and gas company’s stock worth $289,000 after buying an additional 5,434 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.