DNOW (NYSE:DNOW) Upgraded at StockNews.com

DNOW (NYSE:DNOW - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.

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

DNOW Stock Performance

Shares of NYSE:DNOW traded down $0.02 during trading on Thursday, reaching $15.98. 1,056,150 shares of the stock traded hands, compared to its average volume of 1,111,845. DNOW has a 52-week low of $11.42 and a 52-week high of $18.45. The stock has a market cap of $1.69 billion, a P/E ratio of 21.89 and a beta of 1.53. The stock has a 50-day moving average of $14.51 and a two-hundred day moving average of $13.66.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. Sell-side analysts expect that DNOW will post 0.86 earnings per share for the current year.

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DNOW announced that its Board of Directors has approved a share repurchase program on Friday, January 24th that authorizes the company to repurchase $160.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of DNOW

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in DNOW by 9.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after purchasing an additional 543,403 shares during the period. Global Alpha Capital Management Ltd. increased its holdings in shares of DNOW by 1.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company's stock valued at $33,908,000 after acquiring an additional 48,900 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in DNOW by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company's stock worth $31,065,000 after purchasing an additional 128,252 shares in the last quarter. First Trust Advisors LP increased its position in DNOW by 0.7% during the fourth quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company's stock worth $28,585,000 after buying an additional 15,869 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in 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 last quarter. 97.63% of the stock is currently owned by hedge funds and other 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.