DNOW Inc. (NYSE:DNOW) Director Sells $401,955.10 in Stock

DNOW Inc. (NYSE:DNOW) Director Paul M. Coppinger sold 26,186 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the sale, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

DNOW Stock Up 0.1 %

Shares of DNOW opened at $15.13 on Friday. The stock’s 50-day moving average price is $13.11 and its 200 day moving average price is $13.34. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 8.09 and a beta of 1.45. DNOW Inc. has a 12-month low of $9.44 and a 12-month high of $15.65.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $606.00 million for the quarter, compared to analyst estimates of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. DNOW’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Equities research analysts expect that DNOW Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On DNOW

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 2,561 shares during the period. KBC Group NV raised its position in DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,190 shares in the last quarter. Quarry LP lifted its stake in DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 1,908 shares during the period. Innealta Capital LLC acquired a new stake in DNOW during the second quarter valued at approximately $67,000. Finally, nVerses Capital LLC bought a new stake in shares of DNOW in the 3rd quarter valued at approximately $78,000. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

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.