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 stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

DNOW Stock Performance

Shares of DNOW opened at $15.13 on Friday. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The company has a market capitalization of $1.60 billion, a PE ratio of 8.09 and a beta of 1.45. The company’s 50 day moving average price is $13.11 and its 200 day moving average price is $13.34.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating 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 business had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. During the same period in the previous year, the company posted $0.25 EPS. DNOW’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that DNOW Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of 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 in the last quarter. American Century Companies Inc. grew its position in DNOW by 141.2% in the second quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock worth $21,532,000 after acquiring an additional 918,131 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of DNOW by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock worth $88,511,000 after purchasing an additional 390,671 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of DNOW by 832.0% during the 3rd quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock valued at $4,730,000 after purchasing an additional 326,547 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of DNOW in the 3rd quarter valued at $2,025,000. 97.63% of the stock is owned by institutional investors and hedge funds.

About DNOW

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.