Insider Selling: 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 business’s 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 sale, the director now directly 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 legal filing with the SEC, which is available at this hyperlink.

DNOW Stock Performance

DNOW opened at $15.05 on Friday. The company has a 50-day moving average of $13.19 and a 200-day moving average of $13.36. The company has a market capitalization of $1.59 billion, a P/E ratio of 8.05 and a beta of 1.45. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65.

DNOW (NYSE:DNOW) last released 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. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The firm had revenue of $606.00 million for the quarter, compared to analyst estimates of $614.92 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. DNOW’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that DNOW Inc. will post 0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DNOW

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in DNOW by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the oil and gas company’s stock valued at $737,000 after acquiring an additional 1,000 shares during the period. SummerHaven Investment Management LLC boosted its stake in DNOW by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock valued at $947,000 after acquiring an additional 1,068 shares during the period. KBC Group NV boosted its stake 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 during the period. Arizona State Retirement System boosted its stake in DNOW by 4.3% in the second quarter. Arizona State Retirement System now owns 30,485 shares of the oil and gas company’s stock valued at $419,000 after acquiring an additional 1,263 shares during the period. Finally, Franklin Resources Inc. boosted its stake in DNOW by 0.6% in the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after acquiring an additional 1,278 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.