DNOW Inc. (NYSE:DNOW) Position Reduced by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in DNOW Inc. (NYSE:DNOW) by 38.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,286 shares of the oil and gas company’s stock after selling 14,457 shares during the quarter. BNP Paribas Financial Markets’ holdings in DNOW were worth $301,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 buying an additional 2,561 shares in the last quarter. KBC Group NV boosted its position in DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares during the period. Quarry LP grew its stake in DNOW by 75.6% during the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 1,908 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of DNOW in the 2nd quarter valued at about $67,000. Finally, nVerses Capital LLC acquired a new position in shares of DNOW in the 3rd quarter valued at about $78,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Performance

DNOW stock opened at $14.42 on Monday. The firm has a 50 day simple moving average of $13.62 and a 200 day simple moving average of $13.41. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The stock has a market cap of $1.53 billion, a P/E ratio of 7.71 and a beta of 1.50.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $614.92 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts predict that DNOW Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction that occurred 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 transaction, the director now owns 56,568 shares in the company, valued at approximately $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

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.