DNOW Inc. (NYSE:DNOW) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in shares of DNOW Inc. (NYSE:DNOW) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,948 shares of the oil and gas company’s stock after selling 8,752 shares during the period. SG Americas Securities LLC’s holdings in DNOW were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DNOW. KBC Group NV lifted its position 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 worth $49,000 after purchasing an additional 1,190 shares in the last quarter. Franklin Resources Inc. grew its position in shares of DNOW by 0.6% during the third 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 last quarter. Coldstream Capital Management Inc. grew its position in shares of DNOW by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after acquiring an additional 1,291 shares during the last quarter. HighTower Advisors LLC grew its position in shares of DNOW by 9.7% during the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock worth $211,000 after acquiring an additional 1,458 shares during the last quarter. Finally, Highland Capital Management LLC lifted its holdings in DNOW by 11.3% in the third quarter. Highland Capital Management LLC now owns 16,417 shares of the oil and gas company’s stock worth $212,000 after purchasing an additional 1,669 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other DNOW 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 completion of the sale, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. This represents 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 through the SEC website. 2.60% of the stock is owned by corporate insiders.

DNOW Stock Down 3.0 %

DNOW stock opened at $14.89 on Monday. The company has a market capitalization of $1.58 billion, a P/E ratio of 7.96 and a beta of 1.53. The company has a 50-day simple moving average of $13.98 and a 200 day simple moving average of $13.41. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. DNOW’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. Equities analysts anticipate that DNOW Inc. will post 0.81 EPS for the current year.

DNOW announced that its Board of Directors has initiated a share repurchase program on Friday, January 24th that authorizes the company to buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.