DNOW (NYSE:DNOW) Given New $18.00 Price Target at Susquehanna

DNOW (NYSE:DNOW - Free Report) had its target price trimmed by Susquehanna from $19.00 to $18.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company's stock.

Several other research analysts have also commented on the company. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Stifel Nicolaus lifted their price objective on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, February 14th.

DNOW Stock Performance

DNOW stock traded up $0.30 during midday trading on Monday, reaching $15.89. 3,501,923 shares of the company traded hands, compared to its average volume of 917,059. DNOW has a 52-week low of $11.42 and a 52-week high of $18.45. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 21.76 and a beta of 1.21. The business has a 50 day moving average of $15.90 and a 200-day moving average of $14.42.

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, topping the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. Research analysts anticipate that DNOW will post 0.86 earnings per share for the current year.

DNOW announced that its board has initiated a share repurchase plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On DNOW

A number of institutional investors have recently added to or reduced their stakes in DNOW. Smartleaf Asset Management LLC boosted its position in shares of DNOW by 78.7% during 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 during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 last quarter. Quarry LP raised 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 valued at $73,000 after buying an additional 2,281 shares during the period. KBC Group NV grew its position in 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 during the period. Finally, Quantinno Capital Management LP acquired a new stake in DNOW during the fourth quarter worth $166,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

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.