Stifel Nicolaus Forecasts Strong Price Appreciation for DNOW (NYSE:DNOW) Stock

DNOW (NYSE:DNOW - Get Free Report) had its price objective boosted by investment analysts at Stifel Nicolaus from $17.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' target price suggests a potential upside of 16.87% from the company's previous close.

Several other equities analysts also recently commented on the company. Susquehanna decreased their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wall Street Zen raised DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th.

DNOW Price Performance

DNOW stock traded up $1.20 during mid-day trading on Friday, hitting $16.26. 1,857,468 shares of the company's stock traded hands, compared to its average volume of 916,050. The firm has a 50 day simple moving average of $15.18 and a two-hundred day simple moving average of $14.99. DNOW has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 21.96 and a beta of 1.09.

DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The business had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same quarter in the previous year, the firm posted $0.21 EPS. DNOW's revenue was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that DNOW will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DNOW

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its stake in DNOW by 376.3% during the 1st quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company's stock worth $49,802,000 after acquiring an additional 2,302,738 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DNOW by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company's stock worth $31,065,000 after purchasing an additional 128,252 shares in the last quarter. First Trust Advisors LP increased 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 worth $28,585,000 after purchasing an additional 15,869 shares during the period. Charles Schwab Investment Management Inc. raised its stake in DNOW by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock valued at $27,212,000 after purchasing an additional 25,402 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in 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 in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.

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