StockNews.com Upgrades DNOW (NYSE:DNOW) to "Buy"

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

A number of other brokerages also recently weighed in on DNOW. Stifel Nicolaus boosted their price objective 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. Susquehanna cut their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th.

DNOW Trading Up 0.9 %

DNOW stock opened at $16.13 on Friday. The stock has a 50 day moving average of $15.84 and a 200-day moving average of $14.50. The stock has a market cap of $1.70 billion, a P/E ratio of 22.10 and a beta of 1.21. DNOW has a 52 week low of $11.42 and a 52 week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly 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%. As a group, equities analysts predict that DNOW will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On DNOW

Several hedge funds and other institutional investors have recently bought and sold shares of DNOW. Smartleaf Asset Management LLC grew its position 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 worth $26,000 after buying an additional 885 shares during the last quarter. GAMMA Investing LLC raised its position in DNOW by 122.1% during the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after buying an additional 1,022 shares during the period. Quarry LP boosted its position in 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 acquiring an additional 2,281 shares during the period. KBC Group NV grew its stake in DNOW by 72.4% during the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock valued at $85,000 after acquiring an additional 2,754 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of DNOW in the 4th quarter valued at about $166,000. 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.

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