DNOW Inc. (NYSE:DNOW) Shares Sold by Quarry LP

Quarry LP cut its stake in shares of DNOW Inc. (NYSE:DNOW) by 25.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,297 shares of the oil and gas company’s stock after selling 1,136 shares during the period. Quarry LP’s holdings in DNOW were worth $43,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of DNOW by 1,062.7% in the second 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 grew its holdings in shares of 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 purchasing an additional 1,190 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of DNOW in the second quarter valued at approximately $67,000. nVerses Capital LLC acquired a new position in shares of DNOW in the third quarter valued at approximately $78,000. Finally, CWM LLC grew 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 valued at $93,000 after purchasing an additional 4,004 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

DNOW Stock Up 0.7 %

Shares of DNOW stock opened at $14.87 on Wednesday. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65. The company has a 50 day moving average of $13.51 and a 200 day moving average of $13.40. The company has a market capitalization of $1.57 billion, a P/E ratio of 7.95 and a beta of 1.50.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, research analysts anticipate that DNOW Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 owns 56,568 shares in the company, valued at approximately $868,318.80. The trade was a 31.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% 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.