DNOW (NYSE:DNOW) Upgraded at StockNews.com

StockNews.com upgraded shares of DNOW (NYSE:DNOW) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Separately, Stifel Nicolaus increased their target price on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, February 14th.

DNOW Trading Down 0.1 %

Shares of DNOW stock opened at $15.98 on Thursday. The business’s fifty day simple moving average is $14.51 and its 200 day simple moving average is $13.65. DNOW has a 12 month low of $11.42 and a 12 month high of $18.45. The firm has a market capitalization of $1.69 billion, a P/E ratio of 21.89 and a beta of 1.53.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. Analysts predict that DNOW will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has authorized a stock repurchase program on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On DNOW

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNOW. Smartleaf Asset Management LLC boosted its position in DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 885 shares during the period. KBC Group NV boosted its holdings in DNOW by 45.5% in the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,190 shares during the period. Quarry LP boosted its holdings in DNOW by 69.2% in the 4th quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock worth $73,000 after buying an additional 2,281 shares during the period. Quantinno Capital Management LP purchased a new position in DNOW in the 4th quarter valued at approximately $166,000. Finally, Coldstream Capital Management Inc. raised its holdings in DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after acquiring an additional 1,291 shares during the period. 97.63% of the stock is currently owned by institutional investors.

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.