Jane Street Group LLC lifted its position in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 428.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,755 shares of the oil and gas company's stock after purchasing an additional 192,757 shares during the quarter. Jane Street Group LLC owned 0.22% of DNOW worth $3,093,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its stake in DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after acquiring an additional 543,403 shares during the period. First Trust Advisors LP grew its stake in DNOW by 0.7% in the 4th quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company's stock valued at $28,585,000 after acquiring an additional 15,869 shares during the period. Charles Schwab Investment Management Inc. grew its stake in DNOW by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock valued at $27,212,000 after acquiring an additional 25,402 shares during the period. JPMorgan Chase & Co. grew its stake in DNOW by 6.5% in the 4th 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 during the period. Finally, Northern Trust Corp grew its stake in DNOW by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,225,767 shares of the oil and gas company's stock valued at $15,947,000 after acquiring an additional 98,437 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.
DNOW Trading Down 0.4%
DNOW traded down $0.06 on Friday, hitting $15.28. 614,386 shares of the company's stock were exchanged, compared to its average volume of 936,287. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The firm has a 50-day moving average price of $15.71 and a 200-day moving average price of $14.89. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 20.93 and a beta of 1.20.
DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $599.00 million for the quarter, compared to analysts' expectations of $587.17 million. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. On average, equities analysts predict that DNOW Inc. will post 0.86 EPS for the current year.
DNOW declared that its Board of Directors has authorized a stock repurchase plan on Friday, January 24th that permits the company to buyback $160.00 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
A number of research firms recently issued reports on DNOW. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Susquehanna lowered their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus lowered their target price on shares of DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.
View Our Latest Report on DNOW
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.
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