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

DNOW Inc. (NYSE:DNOW) Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the transaction, the director now directly owns 56,568 shares in the company, valued at approximately $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

DNOW Trading Up 0.1 %

Shares of NYSE:DNOW traded up $0.01 on Wednesday, reaching $15.13. 508,116 shares of the company traded hands, compared to its average volume of 922,271. The stock has a market capitalization of $1.60 billion, a P/E ratio of 8.09 and a beta of 1.45. The business’s 50-day simple moving average is $13.07 and its 200 day simple moving average is $13.33. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $614.92 million. During the same period last year, the company earned $0.25 EPS. DNOW’s revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts expect that DNOW Inc. will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On DNOW

A number of large investors have recently added to or reduced their stakes in DNOW. Louisiana State Employees Retirement System increased its holdings in DNOW by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the oil and gas company’s stock valued at $737,000 after purchasing an additional 1,000 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of DNOW by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock worth $947,000 after acquiring an additional 1,068 shares during the period. KBC Group NV grew its holdings in shares of DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares during the period. Arizona State Retirement System grew its holdings in shares of DNOW by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 30,485 shares of the oil and gas company’s stock worth $419,000 after acquiring an additional 1,263 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock worth $2,761,000 after acquiring an additional 1,278 shares during the period. Institutional investors 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 report on Thursday, August 15th.

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.