DNOW (NYSE:DNOW) Downgraded by StockNews.com to "Hold"

StockNews.com downgraded shares of DNOW (NYSE:DNOW - Free Report) from a buy rating to a hold rating in a research note published on Friday morning.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus lifted their target price on DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Susquehanna dropped their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th.

DNOW Trading Down 3.9 %

Shares of DNOW stock traded down $0.62 during trading on Friday, reaching $15.25. The company's stock had a trading volume of 1,081,446 shares, compared to its average volume of 918,717. DNOW has a one year low of $11.42 and a one year high of $18.45. The stock has a 50-day moving average price of $15.90 and a two-hundred day moving average price of $14.45. The stock has a market capitalization of $1.61 billion, a P/E ratio of 20.89 and a beta of 1.21.

DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. As a group, sell-side analysts anticipate that DNOW will post 0.86 EPS for the current fiscal year.

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

Institutional Trading of DNOW

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 885 shares in the last quarter. GAMMA Investing LLC raised its stake in DNOW by 122.1% during the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock worth $32,000 after buying an additional 1,022 shares during the period. Quarry LP grew its stake in DNOW by 69.2% in the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock valued at $73,000 after acquiring an additional 2,281 shares during the period. KBC Group NV increased its holdings in shares of DNOW by 72.4% in the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock worth $85,000 after acquiring an additional 2,754 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of DNOW during the fourth quarter worth about $166,000. 97.63% of the stock is 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.