DNOW (NYSE:DNOW) Earns Buy Rating from Stifel Nicolaus

DNOW (NYSE:DNOW)‘s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a research note issued to investors on Monday,Benzinga reports. They currently have a $18.00 price objective on the oil and gas company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 31.77% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price on the stock in a research note on Friday. Zacks Research downgraded shares of DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

DNOW Price Performance

NYSE DNOW traded up $0.31 on Monday, hitting $13.66. 750,692 shares of the stock were exchanged, compared to its average volume of 1,318,298. The company’s 50-day moving average price is $14.46 and its two-hundred day moving average price is $14.80. DNOW has a 52-week low of $12.01 and a 52-week high of $18.45. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 15.71 and a beta of 1.01.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The company had revenue of $634.00 million during the quarter, compared to analyst estimates of $637.13 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts predict that DNOW will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On DNOW

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group grew its stake in DNOW by 2,650.0% in the 1st quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 1,643 shares during the last quarter. Headlands Technologies LLC increased its stake in DNOW by 21,663.6% during the first quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,383 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of DNOW by 190.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of DNOW by 2,101.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 2,501 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in DNOW during the third quarter worth about $44,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.