Jefferies Financial Group Inc. Takes Position in DNOW Inc. (NYSE:DNOW)

Jefferies Financial Group Inc. acquired a new position in shares of DNOW Inc. (NYSE:DNOW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 36,108 shares of the oil and gas company's stock, valued at approximately $617,000.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. grew its position in DNOW by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after acquiring an additional 112,135 shares in the last quarter. Norges Bank purchased a new position in shares of DNOW in the fourth quarter valued at $3,856,000. Pictet Asset Management Holding SA grew its holdings in DNOW by 23.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock valued at $205,000 after purchasing an additional 2,947 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in DNOW during the 4th quarter worth $226,000. Finally, Wells Fargo & Company MN increased its stake in DNOW by 11.5% during the 4th quarter. Wells Fargo & Company MN now owns 70,518 shares of the oil and gas company's stock worth $917,000 after buying an additional 7,259 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Stock Up 0.7%

DNOW stock traded up $0.11 during mid-day trading on Friday, hitting $14.98. 1,209,503 shares of the company's stock traded hands, compared to its average volume of 1,163,316. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The firm has a 50 day moving average price of $14.81 and a 200 day moving average price of $15.26. The company has a market cap of $1.60 billion, a PE ratio of 19.71 and a beta of 1.13.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DNOW. Susquehanna reduced their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, Stifel Nicolaus decreased their target price on shares of DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, July 21st.

About DNOW

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.