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

DNOW (NYSE:DNOW - Get Free Report) had its price target lowered by stock analysts at Stifel Nicolaus from $19.00 to $18.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' price objective would indicate a potential upside of 18.93% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Susquehanna reduced their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th.

DNOW Stock Up 2.2%

NYSE:DNOW traded up $0.33 during mid-day trading on Monday, reaching $15.14. 1,327,604 shares of the stock were exchanged, compared to its average volume of 972,411. DNOW has a 1 year low of $11.42 and a 1 year high of $18.45. The company has a 50 day simple moving average of $14.74 and a 200-day simple moving average of $15.11. The stock has a market capitalization of $1.60 billion, a P/E ratio of 20.45 and a beta of 1.08.

DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. DNOW had a return on equity of 9.00% and a net margin of 3.40%. DNOW's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. As a group, research analysts predict that DNOW will post 0.86 EPS for the current year.

Hedge Funds Weigh In On DNOW

Hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its position in DNOW by 376.3% during the first quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company's stock worth $49,802,000 after buying an additional 2,302,738 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of DNOW by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company's stock valued at $31,065,000 after purchasing an additional 128,252 shares during the last quarter. First Trust Advisors LP grew its position in shares of DNOW by 0.7% in the fourth quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company's stock valued at $28,585,000 after purchasing an additional 15,869 shares during the last quarter. American Century Companies Inc. grew its position in shares of DNOW by 16.8% in the first quarter. American Century Companies Inc. now owns 2,003,050 shares of the oil and gas company's stock valued at $34,212,000 after purchasing an additional 288,311 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of DNOW by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after purchasing an additional 112,135 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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.