Verition Fund Management LLC Boosts Stake in DNOW Inc. (NYSE:DNOW)

Verition Fund Management LLC lifted its stake in DNOW Inc. (NYSE:DNOW) by 181.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,283 shares of the oil and gas company’s stock after acquiring an additional 18,251 shares during the period. Verition Fund Management LLC’s holdings in DNOW were worth $366,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of DNOW by 71.5% during the 2nd quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock worth $96,768,000 after acquiring an additional 2,939,502 shares in the last quarter. American Century Companies Inc. increased its position in shares of DNOW by 141.2% during the second quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock worth $21,532,000 after purchasing an additional 918,131 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of DNOW by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock worth $88,511,000 after purchasing an additional 390,671 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of DNOW by 832.0% during the 3rd quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock valued at $4,730,000 after purchasing an additional 326,547 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of DNOW by 21.9% in the 2nd quarter. AQR Capital Management LLC now owns 827,965 shares of the oil and gas company’s stock worth $11,368,000 after purchasing an additional 148,549 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction dated 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 approximately $868,318.80. The trade was a 31.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

DNOW Price Performance

Shares of DNOW stock opened at $14.42 on Friday. The stock’s fifty day moving average price is $13.62 and its 200 day moving average price is $13.42. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 7.71 and a beta of 1.50.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million during the quarter, compared to analyst estimates 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 last year, the firm posted $0.25 EPS. As a group, equities research analysts anticipate that DNOW Inc. will post 0.81 earnings per share for the current year.

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.