Susquehanna Cuts DNOW (NYSE:DNOW) Price Target to $14.00

DNOW (NYSE:DNOW) had its price objective lowered by Susquehanna from $15.00 to $14.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price suggests a potential upside of 6.59% from the company’s previous close.

Separately, Stifel Nicolaus lifted their target price on DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 28th.

DNOW Stock Up 2.9 %

DNOW stock opened at $13.14 on Thursday. The stock has a market cap of $1.40 billion, a PE ratio of 6.05 and a beta of 1.45. The firm’s 50-day simple moving average is $13.77 and its 200 day simple moving average is $13.09. DNOW has a fifty-two week low of $9.44 and a fifty-two week high of $15.57.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $563.00 million for the quarter, compared to analyst estimates of $569.15 million. DNOW had a return on equity of 10.39% and a net margin of 10.30%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. Equities analysts forecast that DNOW will post 1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On DNOW

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNOW. First Eagle Investment Management LLC lifted its position in shares of DNOW by 0.4% in the first quarter. First Eagle Investment Management LLC now owns 258,029 shares of the oil and gas company’s stock worth $3,922,000 after buying an additional 1,000 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of DNOW by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 93,060 shares of the oil and gas company’s stock worth $1,415,000 after buying an additional 1,205 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of DNOW by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 21,473 shares of the oil and gas company’s stock worth $326,000 after buying an additional 1,480 shares during the period. Nordea Investment Management AB grew its position in shares of DNOW by 0.5% in the first quarter. Nordea Investment Management AB now owns 399,843 shares of the oil and gas company’s stock valued at $6,166,000 after purchasing an additional 1,947 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in DNOW by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 216,263 shares of the oil and gas company’s stock valued at $2,448,000 after purchasing an additional 2,469 shares during the period. Institutional investors own 97.63% of the company’s stock.

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.