DNOW Inc. (NYSE:DNOW) Position Decreased by State Street Corp

State Street Corp lowered its holdings in DNOW Inc. (NYSE:DNOW) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,110,066 shares of the oil and gas company’s stock after selling 54,586 shares during the quarter. State Street Corp’s holdings in DNOW were worth $53,143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DNOW. Pacer Advisors Inc. grew its position in DNOW by 71.5% in the second quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock worth $96,768,000 after buying an additional 2,939,502 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 acquiring an additional 390,671 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of DNOW by 1.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,819,745 shares of the oil and gas company’s stock worth $52,445,000 after acquiring an additional 59,653 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of DNOW by 1.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,701,685 shares of the oil and gas company’s stock worth $50,824,000 after acquiring an additional 42,384 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its holdings in shares of DNOW by 1.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock valued at $33,908,000 after purchasing an additional 48,900 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

DNOW Stock Down 1.9 %

NYSE:DNOW opened at $13.54 on Thursday. The stock has a fifty day simple moving average of $13.68 and a 200 day simple moving average of $13.40. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 7.24 and a beta of 1.50. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65.

DNOW (NYSE:DNOW) last announced its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, topping 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 company had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. During the same period last year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts predict that DNOW Inc. will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Paul M. Coppinger sold 26,186 shares of the 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 owns 56,568 shares in the company, valued at $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

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.