Jefferies Financial Group Inc. Makes New Investment in DNOW Inc. $DNOW

Jefferies Financial Group Inc. acquired a new stake in shares of DNOW Inc. (NYSE:DNOW) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 86,060 shares of the oil and gas company’s stock, valued at approximately $1,312,000. Jefferies Financial Group Inc. owned 0.08% of DNOW as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of DNOW by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock worth $98,421,000 after purchasing an additional 42,878 shares in the last quarter. Ameriprise Financial Inc. boosted its position in DNOW by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock valued at $44,300,000 after buying an additional 72,517 shares in the last quarter. Geode Capital Management LLC boosted its position in DNOW by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock valued at $37,437,000 after buying an additional 32,317 shares in the last quarter. American Century Companies Inc. grew its stake in DNOW by 19.3% during the second quarter. American Century Companies Inc. now owns 2,389,433 shares of the oil and gas company’s stock worth $35,435,000 after buying an additional 386,383 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in 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. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on DNOW. Zacks Research cut shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Wall Street Zen lowered DNOW from a “buy” rating to a “hold” rating in a research report on Sunday. Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a report on Friday, November 21st. Stifel Nicolaus cut their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, KeyCorp set a $19.00 price objective on DNOW in a research note on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Price Performance

Shares of DNOW stock opened at $11.64 on Thursday. DNOW Inc. has a 1 year low of $11.28 and a 1 year high of $17.48. The company has a current ratio of 2.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $14.12 and its 200-day moving average is $14.36. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -40.12 and a beta of 0.79.

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

About DNOW

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.