Jane Street Group LLC increased its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 428.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,755 shares of the oil and gas company's stock after buying an additional 192,757 shares during the period. Jane Street Group LLC owned 0.22% of DNOW worth $3,093,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in DNOW by 0.8% during the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company's stock valued at $1,303,000 after purchasing an additional 792 shares during the period. Smartleaf Asset Management LLC grew its position in shares of DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock worth $26,000 after buying an additional 885 shares during the last quarter. Highland Capital Management LLC grew its position in shares of DNOW by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company's stock worth $228,000 after buying an additional 1,097 shares during the last quarter. Franklin Resources Inc. boosted its stake in DNOW by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock worth $2,761,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in DNOW by 0.7% in the 4th quarter. Legal & General Group Plc now owns 305,467 shares of the oil and gas company's stock worth $3,974,000 after purchasing an additional 2,132 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.
Analyst Ratings Changes
DNOW has been the subject of a number of recent analyst reports. Susquehanna lowered their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus decreased their target price on shares of DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th.
View Our Latest Report on DNOW
DNOW Price Performance
NYSE DNOW traded down $0.16 on Monday, hitting $15.11. The company had a trading volume of 615,149 shares, compared to its average volume of 935,002. The company has a market capitalization of $1.60 billion, a PE ratio of 20.70 and a beta of 1.20. The company's fifty day moving average price is $15.71 and its 200-day moving average price is $14.94. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45.
DNOW (NYSE:DNOW - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $587.17 million. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. On average, sell-side analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.
DNOW announced that its Board of Directors has approved a share buyback plan on Friday, January 24th that allows the company to repurchase $160.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.
DNOW Profile
(
Free Report)
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.
Further Reading
Before you consider DNOW, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DNOW wasn't on the list.
While DNOW currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
