DNOW Inc. (NYSE:DNOW) Short Interest Update

DNOW Inc. (NYSE:DNOW) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 3,150,000 shares, a drop of 5.7% from the November 30th total of 3,340,000 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 754,100 shares, the short-interest ratio is presently 4.2 days.

Insider Transactions at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of the 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 transaction, the director now directly owns 56,568 shares in the company, valued at approximately $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On DNOW

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNOW. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 2,561 shares in the last quarter. KBC Group NV raised its holdings 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 valued at $49,000 after acquiring an additional 1,190 shares in the last quarter. Quarry LP boosted its stake in DNOW by 75.6% during 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. nVerses Capital LLC acquired a new position in DNOW during the 3rd quarter worth $78,000. Finally, Quest Partners LLC bought a new stake in shares of DNOW in the 2nd quarter worth about $94,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Up 0.8 %

Shares of DNOW stock traded up $0.10 during trading hours on Wednesday, hitting $13.01. The company’s stock had a trading volume of 335,781 shares, compared to its average volume of 906,503. The company has a market capitalization of $1.38 billion, a PE ratio of 6.96 and a beta of 1.50. The business has a fifty day moving average of $13.82 and a 200 day moving average of $13.36. DNOW has a 1-year low of $9.44 and a 1-year high of $15.65.

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, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, sell-side analysts anticipate that DNOW will post 0.81 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.