DNOW Inc. (NYSE:DNOW) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board reduced its position in DNOW Inc. (NYSE:DNOW) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,926 shares of the oil and gas company’s stock after selling 9,100 shares during the period. Public Sector Pension Investment Board’s holdings in DNOW were worth $2,921,000 at the end of the most recent quarter.

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

Insider Transactions at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the completion of the transaction, the director now directly owns 56,568 shares in the company, valued at $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

DNOW Trading Up 0.2 %

NYSE DNOW opened at $15.22 on Wednesday. The company has a 50-day moving average price of $13.29 and a two-hundred day moving average price of $13.37. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 8.14 and a beta of 1.50.

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

DNOW Company Profile

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.