DNOW Inc. (NYSE:DNOW) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in shares of DNOW Inc. (NYSE:DNOW) by 0.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,439,853 shares of the oil and gas company’s stock after selling 3,823 shares during the period. Geode Capital Management LLC owned approximately 2.31% of DNOW worth $31,553,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DNOW. Allspring Global Investments Holdings LLC increased its stake in DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,561 shares during the period. KBC Group NV grew its stake in shares of 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 acquiring an additional 1,190 shares in the last quarter. Quarry LP increased its position in shares of DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 1,908 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of DNOW in the second quarter worth about $67,000. Finally, nVerses Capital LLC purchased a new position in DNOW in the third quarter valued at about $78,000. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Up 0.3 %

DNOW stock opened at $13.11 on Thursday. The stock’s 50 day moving average is $13.73 and its two-hundred day moving average is $13.38. 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 $1.39 billion, a PE ratio of 7.01 and a beta of 1.50.

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, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, sell-side analysts anticipate that DNOW Inc. will post 0.81 EPS for the current year.

Insider Transactions at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of the company’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 directly owns 56,568 shares of the company’s stock, valued at approximately $868,318.80. This represents a 31.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.