DNOW (NYSE:DNOW) Stock Gets Price Target Trim from Susquehanna

Key Points

• Susquehanna cut its DNOW price target to $18 from $19 but maintained a positive rating; the new target implies 30.61% upside from the current share price.
• Analyst sentiment remains broadly favorable: DNOW has a consensus “Moderate Buy” rating and an average price target of $18.
• In its latest quarter, DNOW reported earnings of $0.18 per share, beating estimates of $0.15, while revenue of $1.34 billion slightly missed expectations; revenue was up 110.9% year over year.

DNOW (NYSE:DNOW - Get Free Report) had its price target decreased by equities researchers at Susquehanna from $19.00 to $18.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "positive" rating on the oil and gas company's stock. Susquehanna's price objective would indicate a potential upside of 30.61% from the company's current price.

DNOW has been the topic of a number of other research reports. Weiss Ratings upgraded DNOW from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. DA Davidson upped their price target on DNOW from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of DNOW from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Freedom Broker downgraded shares of DNOW from a "buy" rating to a "hold" rating and set a $18.00 price target on the stock. in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

DNOW Stock Down 10.3%

NYSE:DNOW opened at $13.78 on Friday. DNOW has a 12-month low of $10.94 and a 12-month high of $17.26. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.49 billion, a P/E ratio of -12.88 and a beta of 0.95. The stock's fifty day simple moving average is $15.76 and its 200-day simple moving average is $14.12.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The oil and gas company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.35 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%. The firm's quarterly revenue was up 110.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities research analysts expect that DNOW will post 0.34 earnings per share for the current year.

Institutional Investors Weigh In On DNOW

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of DNOW during the second quarter worth about $374,942,000. Wellington Management Group LLP grew its holdings in shares of DNOW by 15.6% during the second quarter. Wellington Management Group LLP now owns 19,513,068 shares of the oil and gas company's stock worth $253,084,000 after buying an additional 2,633,894 shares in the last quarter. Engine Capital Management LP bought a new position in shares of DNOW during the first quarter worth about $61,525,000. First Trust Advisors LP grew its holdings in shares of DNOW by 2,335.0% during the first quarter. First Trust Advisors LP now owns 4,065,728 shares of the oil and gas company's stock worth $48,423,000 after buying an additional 3,898,758 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in DNOW in the 2nd quarter valued at approximately $42,540,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Company Profile

DNOW Inc NYSE: DNOW is a global distributor of products and services used in the energy and industrial sectors. The company supplies equipment and materials for upstream, midstream and downstream oil and gas operations, as well as related industrial, utility and infrastructure markets.

Its offerings include pipe, valves, fittings, flanges, and other mechanical products; production and artificial-lift equipment; electrical and instrumentation products; and maintenance, repair and operating supplies.

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