Jane Street Group LLC Has $12.62 Million Holdings in DNOW Inc. $DNOW

Key Points

• Jane Street Group LLC increased its holdings in DNOW Inc. by 210.8% in the first quarter, owning 738,843 shares valued at approximately $12.62 million.
• DNOW reported $0.27 earnings per share for the last quarter, surpassing analysts' expectations, and has a market cap of $1.71 billion.
• Analysts have mixed ratings on DNOW, with consensus rating as "Buy" and a price target averaging $18.00 after a downgrade from Stifel Nicolaus.

Jane Street Group LLC raised its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 210.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 738,843 shares of the oil and gas company's stock after purchasing an additional 501,088 shares during the period. Jane Street Group LLC owned 0.70% of DNOW worth $12,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its position in DNOW by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 60,319 shares of the oil and gas company's stock valued at $1,030,000 after purchasing an additional 966 shares during the period. GAMMA Investing LLC raised its position in shares of DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,022 shares during the period. Nisa Investment Advisors LLC raised its position in shares of DNOW by 15.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company's stock valued at $134,000 after acquiring an additional 1,073 shares during the period. CoreCommodity Management LLC raised its position in shares of DNOW by 1.4% in the 4th quarter. CoreCommodity Management LLC now owns 95,471 shares of the oil and gas company's stock valued at $1,242,000 after acquiring an additional 1,364 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of DNOW by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 81,390 shares of the oil and gas company's stock valued at $1,390,000 after acquiring an additional 1,467 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Performance

Shares of DNOW opened at $15.99 on Friday. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The firm's 50 day moving average price is $14.91 and its two-hundred day moving average price is $15.34. The firm has a market cap of $1.71 billion, a P/E ratio of 21.03 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business's revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DNOW shares. Stifel Nicolaus cut their price target on shares of DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Zacks Research upgraded shares of DNOW to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $18.00.

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.

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