Susquehanna Raises DNOW (NYSE:DNOW) Price Target to $16.00

DNOW (NYSE:DNOW) had its target price lifted by analysts at Susquehanna from $13.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price objective points to a potential upside of 5.54% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Stifel Nicolaus upped their price objective on DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. StockNews.com lowered DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th.

DNOW Trading Up 1.5 %

NYSE DNOW opened at $15.16 on Monday. The stock has a 50-day simple moving average of $13.13 and a 200 day simple moving average of $11.66. The company has a market capitalization of $1.61 billion, a PE ratio of 6.71 and a beta of 1.48. DNOW has a 12 month low of $8.83 and a 12 month high of $15.48.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The firm had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $540.83 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The company’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that DNOW will post 1.02 earnings per share for the current fiscal year.

Institutional Trading of DNOW

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd bought a new position in DNOW during the 4th quarter worth $212,000. Wellington Management Group LLP increased its stake in DNOW by 14.5% during the 4th quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock worth $10,487,000 after acquiring an additional 117,612 shares during the period. Goldman Sachs Group Inc. increased its stake in DNOW by 11.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 966,974 shares of the oil and gas company’s stock worth $10,946,000 after acquiring an additional 97,378 shares during the period. Price T Rowe Associates Inc. MD increased its stake in DNOW by 7.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 117,475 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 8,625 shares during the period. Finally, GSA Capital Partners LLP bought a new position in DNOW during the 4th quarter worth $187,000. Institutional investors own 97.63% of the company’s stock.

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.