DNOW Inc. (NYSE:DNOW) Short Interest Up 8.8% in November

DNOW Inc. (NYSE:DNOW) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,340,000 shares, an increase of 8.8% from the October 31st total of 3,070,000 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily volume of 758,900 shares, the short-interest ratio is currently 4.4 days.

DNOW Trading Down 1.4 %

DNOW stock traded down $0.22 during midday trading on Wednesday, reaching $15.01. The company had a trading volume of 249,750 shares, compared to its average volume of 915,546. DNOW has a 1 year low of $9.44 and a 1 year high of $15.65. The company has a market capitalization of $1.59 billion, a P/E ratio of 8.14 and a beta of 1.50. The company has a 50 day moving average of $13.29 and a two-hundred day moving average of $13.37.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS 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 company 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 posted $0.25 EPS. DNOW’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that DNOW will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock worth $2,761,000 after purchasing an additional 1,278 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 1,291 shares during the period. Barclays PLC increased its holdings in shares of DNOW by 44.6% during the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company’s stock worth $4,484,000 after purchasing an additional 106,927 shares during the period. iSAM Funds UK Ltd bought a new position in shares of DNOW during the 3rd quarter worth about $214,000. Finally, Wellington Management Group LLP increased its holdings in shares of DNOW by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company’s stock worth $14,718,000 after purchasing an additional 8,675 shares during the period. Institutional investors own 97.63% of the company’s stock.

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.