DNOW Inc. (NYSE:DNOW) Shares Sold by State Street Corp

State Street Corp decreased its stake in shares of DNOW Inc. (NYSE:DNOW) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,110,066 shares of the oil and gas company’s stock after selling 54,586 shares during the period. State Street Corp owned about 3.88% of DNOW worth $53,143,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DNOW. Allspring Global Investments Holdings LLC increased its holdings in shares of DNOW by 1,062.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 2,561 shares during the last quarter. KBC Group NV increased its stake in DNOW by 45.5% during 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 during the last quarter. Quarry LP lifted its position in shares of DNOW by 75.6% in the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,908 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of DNOW in the 2nd quarter valued at about $67,000. Finally, nVerses Capital LLC acquired a new stake in DNOW during the third quarter worth about $78,000. 97.63% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the sale, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. The trade was a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

DNOW Price Performance

Shares of DNOW opened at $13.54 on Thursday. DNOW Inc. has a 12 month low of $9.44 and a 12 month high of $15.65. The stock has a fifty day moving average price of $13.68 and a 200 day moving average price of $13.40. The company has a market cap of $1.43 billion, a P/E ratio of 7.24 and a beta of 1.50.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share 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 for the quarter, compared to analysts’ expectations of $614.92 million. During the same quarter last year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts anticipate that DNOW Inc. will post 0.81 earnings per share for the current year.

DNOW 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.