Paul M. Coppinger Sells 26,186 Shares of DNOW Inc. (NYSE:DNOW) Stock

DNOW Inc. (NYSE:DNOW) Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 56,568 shares of the company’s stock, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

DNOW Price Performance

NYSE DNOW opened at $15.13 on Thursday. The business has a 50 day moving average price of $13.11 and a 200 day moving average price of $13.34. The company has a market capitalization of $1.60 billion, a P/E ratio of 8.09 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 announced its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating 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 analysts’ expectations of $614.92 million. During the same quarter last year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research 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 added to or reduced their stakes in DNOW. First Hawaiian Bank purchased a new position in shares of DNOW during the 2nd quarter worth approximately $508,000. CWM LLC raised its holdings in shares of DNOW by 144.9% in the second quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 4,004 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of DNOW by 15.5% in the third quarter. Eagle Asset Management Inc. now owns 277,298 shares of the oil and gas company’s stock valued at $3,951,000 after acquiring an additional 37,178 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of DNOW by 21.9% during the second quarter. AQR Capital Management LLC now owns 827,965 shares of the oil and gas company’s stock valued at $11,368,000 after acquiring an additional 148,549 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. increased its position in DNOW by 1.9% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock worth $33,908,000 after purchasing an additional 48,900 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

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