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

DNOW (NYSE:DNOW - Get Free Report) had its target price upped by Stifel Nicolaus from $17.00 to $19.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' price target suggests a potential upside of 28.12% from the stock's previous close.

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

DNOW Stock Performance

DNOW traded down $1.00 during midday trading on Friday, hitting $14.83. The stock had a trading volume of 2,478,592 shares, compared to its average volume of 1,077,657. The company has a market cap of $1.57 billion, a P/E ratio of 20.04 and a beta of 1.09. DNOW has a 1 year low of $11.42 and a 1 year high of $18.45. The business has a fifty day moving average of $15.18 and a 200 day moving average of $15.00.

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

Institutional Trading of DNOW

Several large investors have recently bought and sold shares of DNOW. Charles Schwab Investment Management Inc. lifted its stake in shares of DNOW by 1.2% in the 4th 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 during the period. Amundi increased its stake in shares of DNOW by 186.4% in the 4th quarter. Amundi now owns 51,501 shares of the oil and gas company's stock worth $667,000 after acquiring an additional 33,520 shares in the last quarter. JPMorgan Chase & Co. lifted its position in DNOW by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after acquiring an additional 112,135 shares during the period. Nuveen Asset Management LLC lifted its position in DNOW by 0.6% during the 4th quarter. Nuveen Asset Management LLC now owns 934,375 shares of the oil and gas company's stock valued at $12,156,000 after acquiring an additional 5,578 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in DNOW during the fourth quarter worth about $2,887,000. 97.63% of the stock is owned by institutional investors.

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.