DNOW Inc. (NYSE:DNOW) Short Interest Down 5.7% in December

DNOW Inc. (NYSE:DNOW) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 3,150,000 shares, a drop of 5.7% from the November 30th total of 3,340,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 754,100 shares, the days-to-cover ratio is presently 4.2 days.

Insider Buying and Selling at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total value of $401,955.10. Following the transaction, the director now owns 56,568 shares in the company, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DNOW. Pacer Advisors Inc. raised its holdings in DNOW by 71.5% in the 2nd quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock valued at $96,768,000 after buying an additional 2,939,502 shares during the last quarter. American Century Companies Inc. increased its position in DNOW by 141.2% in the 2nd quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock valued at $21,532,000 after acquiring an additional 918,131 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of DNOW by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock valued at $88,511,000 after acquiring an additional 390,671 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of DNOW by 832.0% during the third quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock worth $4,730,000 after purchasing an additional 326,547 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of DNOW in the third quarter worth $2,025,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Trading Up 0.8 %

DNOW stock traded up $0.10 during midday trading on Wednesday, reaching $13.01. The company’s stock had a trading volume of 335,781 shares, compared to its average volume of 906,503. The stock has a market cap of $1.38 billion, a PE ratio of 6.96 and a beta of 1.50. DNOW has a 52 week low of $9.44 and a 52 week high of $15.65. The business has a 50-day moving average price of $13.80 and a 200-day moving average price of $13.36.

DNOW (NYSE:DNOW) last released its quarterly earnings data 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 business had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, research analysts predict that DNOW will post 0.81 EPS for the current fiscal year.

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.