Charles Schwab Investment Management Inc. Sells 2,752 Shares of DNOW Inc. (NYSE:DNOW)

Charles Schwab Investment Management Inc. trimmed its position in shares of DNOW Inc. (NYSE:DNOW) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,066,258 shares of the oil and gas company’s stock after selling 2,752 shares during the period. Charles Schwab Investment Management Inc.’s holdings in DNOW were worth $26,717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 2,561 shares during the period. KBC Group NV increased its stake in DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,190 shares during the period. Quarry LP boosted its holdings in DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 1,908 shares in the last quarter. Innealta Capital LLC acquired a new stake in DNOW during the second quarter valued at approximately $67,000. Finally, nVerses Capital LLC acquired a new stake in DNOW during the third quarter valued at approximately $78,000. 97.63% of the stock is currently owned by institutional investors.

Insider Transactions at DNOW

In other DNOW 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 approximately $868,318.80. This represents a 31.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

DNOW Trading Down 0.4 %

NYSE DNOW opened at $15.17 on Thursday. The stock’s 50 day moving average is $13.34 and its two-hundred day moving average is $13.39. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 8.11 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. The business had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. DNOW’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. On average, analysts predict that DNOW Inc. will post 0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

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.