Short Interest in DNOW Inc. (NYSE:DNOW) Decreases By 5.7%

DNOW Inc. (NYSE:DNOW) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 3,150,000 shares, a decline of 5.7% from the November 30th total of 3,340,000 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average daily trading volume, of 754,100 shares, the short-interest ratio is currently 4.2 days.

DNOW Stock Up 0.8 %

Shares of NYSE DNOW opened at $13.01 on Thursday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 6.96 and a beta of 1.50. The company’s 50-day simple moving average is $13.82 and its 200-day simple moving average is $13.36. DNOW has a 52-week low of $9.44 and a 52-week high of $15.65.

DNOW (NYSE:DNOW) last posted its quarterly earnings data 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 company had revenue of $606.00 million during the quarter, compared to analyst estimates of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. DNOW’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Equities research analysts anticipate that DNOW will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at DNOW

In other 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 transaction of $401,955.10. Following the transaction, the director now owns 56,568 shares in the company, valued at $868,318.80. This trade represents a 31.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DNOW

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings 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 purchasing an additional 2,939,502 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of DNOW by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock worth $88,511,000 after acquiring an additional 390,671 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of DNOW by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,819,745 shares of the oil and gas company’s stock worth $52,445,000 after acquiring an additional 59,653 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of DNOW by 1.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,701,685 shares of the oil and gas company’s stock worth $50,824,000 after acquiring an additional 42,384 shares during the period. Finally, Global Alpha Capital Management Ltd. boosted its position in shares of DNOW by 1.9% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock valued at $33,908,000 after acquiring an additional 48,900 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.