Susquehanna Trims DNOW (NYSE:DNOW) Target Price to $14.00

DNOW (NYSE:DNOW) had its price target reduced by Susquehanna from $15.00 to $14.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Separately, Stifel Nicolaus raised their target price on shares of DNOW from $16.00 to $18.00 and gave the stock a buy rating in a research report on Thursday, March 28th.

DNOW Stock Performance

DNOW stock opened at $13.54 on Thursday. The firm has a fifty day moving average price of $13.74 and a 200 day moving average price of $13.12. DNOW has a fifty-two week low of $9.44 and a fifty-two week high of $15.57. The firm has a market cap of $1.45 billion, a PE ratio of 6.24 and a beta of 1.45.

DNOW (NYSE:DNOW) last released its earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $569.15 million. DNOW had a return on equity of 10.39% and a net margin of 10.30%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, equities analysts predict that DNOW will post 1.06 EPS for the current year.

Hedge Funds Weigh In On DNOW

A number of hedge funds have recently made changes to their positions in DNOW. Wellington Management Group LLP increased its position in shares of DNOW by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock worth $10,487,000 after purchasing an additional 117,612 shares in the last quarter. Polaris Capital Management LLC purchased a new stake in shares of DNOW during the fourth quarter worth $872,000. Denali Advisors LLC acquired a new stake in shares of DNOW in the first quarter valued at about $1,409,000. Louisiana State Employees Retirement System purchased a new position in shares of DNOW in the fourth quarter worth about $602,000. Finally, Nordea Investment Management AB boosted its position in DNOW by 0.5% during the first quarter. Nordea Investment Management AB now owns 399,843 shares of the oil and gas company’s stock worth $6,166,000 after acquiring an additional 1,947 shares during the last quarter. 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.