Wellington Management Group LLP Buys 8,675 Shares of DNOW Inc. (NYSE:DNOW)

Wellington Management Group LLP raised its stake in DNOW Inc. (NYSE:DNOW) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,138,287 shares of the oil and gas company’s stock after acquiring an additional 8,675 shares during the period. Wellington Management Group LLP owned about 1.08% of DNOW worth $14,718,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DNOW. Weiss Asset Management LP bought a new stake in shares of DNOW in the 3rd quarter worth about $2,025,000. HighTower Advisors LLC grew its stake in 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 buying an additional 1,458 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of DNOW by 181.9% in the third quarter. Verition Fund Management LLC now owns 28,283 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 18,251 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of DNOW by 17.8% in the 3rd quarter. Martingale Asset Management L P now owns 129,266 shares of the oil and gas company’s stock worth $1,671,000 after acquiring an additional 19,578 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in DNOW by 159.8% during the 3rd quarter. Quantbot Technologies LP now owns 77,487 shares of the oil and gas company’s stock worth $1,002,000 after acquiring an additional 47,659 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by company insiders.

DNOW Price Performance

DNOW stock opened at $14.42 on Friday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 7.71 and a beta of 1.50. The business has a fifty day moving average price of $13.62 and a 200 day moving average price 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 released its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The business had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts expect that DNOW Inc. will post 0.81 earnings per share for the current fiscal year.

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.