Jefferies Financial Group Inc. Purchases New Stake in DNOW Inc. $DNOW

Jefferies Financial Group Inc. acquired a new position in DNOW Inc. (NYSE:DNOW) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 86,060 shares of the oil and gas company’s stock, valued at approximately $1,312,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of DNOW in the 3rd quarter valued at about $268,000. First Trust Advisors LP raised its stake in shares of DNOW by 0.6% during the third quarter. First Trust Advisors LP now owns 1,963,508 shares of the oil and gas company’s stock worth $29,943,000 after buying an additional 11,485 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of DNOW by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock worth $98,421,000 after buying an additional 42,878 shares during the last quarter. Picton Mahoney Asset Management lifted its holdings in DNOW by 116,545.3% in the third quarter. Picton Mahoney Asset Management now owns 110,813 shares of the oil and gas company’s stock valued at $1,689,000 after buying an additional 110,718 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in DNOW by 5.0% in the third quarter. First Eagle Investment Management LLC now owns 233,530 shares of the oil and gas company’s stock valued at $3,561,000 after buying an additional 11,096 shares during the period. 97.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DNOW has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Weiss Ratings downgraded DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Wall Street Zen lowered DNOW from a “buy” rating to a “hold” rating in a research report on Sunday. Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective for the company in a report on Friday, November 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, DNOW currently has an average rating of “Hold” and a consensus target price of $17.00.

DNOW Trading Up 0.0%

DNOW opened at $11.64 on Thursday. The firm’s fifty day moving average is $14.12 and its two-hundred day moving average is $14.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 2.34. The firm has a market cap of $1.22 billion, a PE ratio of -40.12 and a beta of 0.79. DNOW Inc. has a twelve month low of $11.28 and a twelve month high of $17.48.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Friday, February 20th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $969.50 million. During the same quarter in the previous year, the business earned $0.25 EPS. The firm’s revenue was up 68.0% on a year-over-year basis. Equities research analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.