Jefferies Financial Group Inc. Takes $617,000 Position in DNOW Inc. (NYSE:DNOW)

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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DNOW. Stifel Nicolaus dropped their price objective 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. Susquehanna cut their price objective on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen raised DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

DNOW Stock Up 0.7%

Shares of DNOW traded up $0.11 during midday trading on Friday, reaching $14.98. 1,209,503 shares of the stock were exchanged, compared to its average volume of 1,594,410. The stock's 50 day simple moving average is $14.82 and its 200 day simple moving average is $15.28. The company has a market cap of $1.60 billion, a P/E ratio of 19.71 and a beta of 1.13. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $628.00 million during the quarter, compared to analysts' expectations of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. As a group, analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

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.