Insider Selling: DNOW Inc. (NYSE:DNOW) Director Sells 26,186 Shares of Stock

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

DNOW Stock Up 0.1 %

DNOW traded up $0.01 during trading on Wednesday, reaching $15.13. 508,116 shares of the company were exchanged, compared to its average volume of 922,271. DNOW Inc. has a 12-month low of $9.44 and a 12-month high of $15.65. The company’s 50-day moving average is $13.07 and its two-hundred day moving average is $13.33. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 8.09 and a beta of 1.45.

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

Institutional Investors Weigh In On DNOW

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