Jefferies Financial Group Inc. Buys Shares of 175,001 DNOW Inc. $DNOW

Key Points

• Jefferies Financial Group acquired 175,001 DNOW shares worth approximately $2.27 million, representing about 0.10% of the company.
• Institutional ownership is substantial at 97.63%, with Vanguard and Wellington significantly expanding their positions and BlackRock establishing a major new stake.
• DNOW exceeded quarterly earnings and revenue expectations, while analysts maintain a Moderate Buy consensus with an average price target of $18.25 versus the reported $15.95 share price.

Jefferies Financial Group Inc. bought a new position in shares of DNOW Inc. (NYSE:DNOW - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 175,001 shares of the oil and gas company's stock, valued at approximately $2,270,000. Jefferies Financial Group Inc. owned approximately 0.10% of DNOW at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of DNOW during the 2nd quarter worth $374,942,000. Vanguard Group Inc. grew its position in shares of DNOW by 66.1% in the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company's stock worth $258,351,000 after buying an additional 7,762,071 shares during the last quarter. Wellington Management Group LLP grew its position in shares of DNOW by 187.2% in the 4th quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company's stock worth $143,275,000 after buying an additional 7,048,382 shares during the last quarter. Engine Capital Management LP purchased a new stake in DNOW during the first quarter valued at approximately $61,525,000. Finally, Boston Partners acquired a new stake in DNOW in the third quarter valued at approximately $72,302,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Stock Performance

Shares of DNOW stock opened at $15.95 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of -14.91 and a beta of 0.82. The business's 50 day moving average is $14.40 and its two-hundred day moving average is $13.45. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. DNOW Inc. has a 12-month low of $10.94 and a 12-month high of $17.26.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm posted $0.27 earnings per share. The company's revenue was up 108.1% compared to the same quarter last year. Analysts expect that DNOW Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Susquehanna increased their price target on DNOW from $16.00 to $19.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Wall Street Zen raised shares of DNOW from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research raised shares of DNOW from a "strong sell" rating to a "hold" rating in a research report on Friday, May 22nd. DA Davidson upped their price target on shares of DNOW from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of DNOW in a report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.25.

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.

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