Jefferies Financial Group Inc. Invests $2.27 Million in DNOW Inc. $DNOW

Jefferies Financial Group Inc. acquired a new stake in DNOW Inc. (NYSE:DNOW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 175,001 shares of the oil and gas company’s stock, valued at approximately $2,270,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP grew its holdings in DNOW by 712.6% during the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,703 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of DNOW by 132.5% in the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of DNOW by 8,060.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 2,418 shares during the last quarter. Finally, Arax Advisory Partners grew its stake in shares of DNOW by 336.3% during the fourth quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 2,156 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DNOW shares. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. DA Davidson increased their target price on shares of DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Susquehanna lifted their price target on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a report on Monday, August 24th. Finally, Freedom Capital raised DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

DNOW Stock Performance

Shares of DNOW stock opened at $15.95 on Friday. DNOW Inc. has a 52-week low of $10.94 and a 52-week high of $17.26. The stock’s 50-day moving average price is $14.40 and its 200 day moving average price is $13.45. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.88 billion, a PE ratio of -14.91 and a beta of 0.82.

DNOW (NYSE:DNOW) last announced its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The company’s revenue was up 108.1% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. As a group, equities research analysts forecast that DNOW Inc. will post 0.34 EPS for the current 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.