DNOW (NYSE:DNOW) Sees Strong Trading Volume – What’s Next?

Shares of DNOW Inc. (NYSE:DNOW) saw strong trading volume on Wednesday . 300,747 shares changed hands during trading, a decline of 37% from the previous session’s volume of 475,580 shares.The stock last traded at $13.49 and had previously closed at $13.42.

DNOW Price Performance

The firm’s fifty day moving average is $14.02 and its two-hundred day moving average is $13.34. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 7.25 and a beta of 1.53.

DNOW (NYSE:DNOW) last released its quarterly earnings results 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 the consensus estimate of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. DNOW’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities analysts forecast that DNOW Inc. will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DNOW

Several large investors have recently made changes to their positions in DNOW. KBC Group NV raised its holdings 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 purchasing an additional 1,190 shares in the last quarter. Quarry LP increased its holdings in shares of DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 1,908 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of DNOW during the 3rd quarter valued at $78,000. Canada Pension Plan Investment Board bought a new stake in shares of DNOW during the 2nd quarter worth $95,000. Finally, MBB Public Markets I LLC acquired a new position in shares of DNOW in the 2nd quarter worth $138,000. 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.