DNOW Inc. (NYSE:DNOW) Short Interest Up 16.5% in February

DNOW Inc. (NYSE:DNOWGet Free Report) saw a large increase in short interest in February. As of February 29th, there was short interest totalling 3,610,000 shares, an increase of 16.5% from the February 14th total of 3,100,000 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is currently 3.4 days.

DNOW Price Performance

DNOW stock opened at $14.43 on Monday. The company has a market capitalization of $1.53 billion, a PE ratio of 6.38 and a beta of 1.48. DNOW has a one year low of $8.83 and a one year high of $15.01. The business has a 50 day simple moving average of $11.63 and a 200 day simple moving average of $11.29.

DNOW (NYSE:DNOWGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $540.83 million. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Equities analysts anticipate that DNOW will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of DNOW

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in DNOW by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 1,119,251 shares of the oil and gas company’s stock worth $12,345,000 after buying an additional 30,031 shares in the last quarter. Citigroup Inc. boosted its position in shares of DNOW by 5.1% during the 1st quarter. Citigroup Inc. now owns 105,268 shares of the oil and gas company’s stock valued at $1,161,000 after purchasing an additional 5,070 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in DNOW by 60.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock worth $75,000 after buying an additional 2,546 shares during the period. MetLife Investment Management LLC raised its stake in shares of DNOW by 63.5% in the first quarter. MetLife Investment Management LLC now owns 57,892 shares of the oil and gas company’s stock worth $639,000 after purchasing an additional 22,488 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of DNOW by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,313 shares of the oil and gas company’s stock worth $1,051,000 after purchasing an additional 11,752 shares during the last quarter. Institutional investors own 95.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DNOW shares. Stifel Nicolaus upped their price target on DNOW from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 16th. StockNews.com cut DNOW from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, Susquehanna upped their target price on DNOW from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 16th.

Check Out Our Latest Research Report on DNOW

DNOW Company Profile

(Get Free Report)

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.

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