DNOW (NYSE:DNOW - Get Free Report) had its target price increased by investment analysts at Stifel Nicolaus from $17.00 to $20.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' price target would suggest a potential upside of 13.73% from the company's previous close.
DNOW Price Performance
Shares of DNOW stock traded up $0.41 on Friday, reaching $17.59. 1,334,234 shares of the company were exchanged, compared to its average volume of 1,098,746. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 9.40 and a beta of 1.53. The company has a 50-day moving average of $14.02 and a 200-day moving average of $13.44. DNOW has a one year low of $11.42 and a one year high of $18.45.
DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings data 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 8.70% and a return on equity of 8.90%. As a group, sell-side analysts predict that DNOW will post 0.81 EPS for the current year.
DNOW declared that its board has initiated a share buyback program on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Insider Transactions at DNOW
In related news, Director Paul M. Coppinger sold 26,186 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the transaction, the director now owns 56,568 shares of the company's stock, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company's stock.
Hedge Funds Weigh In On DNOW
Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 885 shares in the last quarter. KBC Group NV lifted its position 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 valued at $49,000 after acquiring an additional 1,190 shares in the last quarter. Quarry LP lifted its position in shares of DNOW by 69.2% during 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 in the last quarter. nVerses Capital LLC bought a new position in shares of DNOW during the 3rd quarter worth approximately $78,000. Finally, Quantinno Capital Management LP bought a new position in shares of DNOW during the 4th quarter worth approximately $166,000. Institutional investors own 97.63% of the company's stock.
About DNOW
(
Get Free Report)
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.
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