Jane Street Group LLC Decreases Holdings in DNOW Inc. (NYSE:DNOW)

Jane Street Group LLC cut its holdings in shares of DNOW Inc. (NYSE:DNOW) by 47.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,998 shares of the oil and gas company’s stock after selling 40,336 shares during the quarter. Jane Street Group LLC’s holdings in DNOW were worth $582,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake 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 worth $38,000 after acquiring an additional 2,561 shares in the last quarter. KBC Group NV raised its stake in shares of DNOW by 45.5% during the third 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 in the last quarter. Quarry LP raised its stake in shares of DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 1,908 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of DNOW during the third quarter worth approximately $78,000. Finally, Quest Partners LLC purchased a new position in shares of DNOW in the second quarter worth $94,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Up 1.2 %

Shares of NYSE DNOW opened at $13.11 on Friday. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The firm’s fifty day moving average is $13.86 and its 200 day moving average is $13.36. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 7.01 and a beta of 1.50.

DNOW (NYSE:DNOW) last issued 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. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts anticipate that DNOW Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the transaction, the director now directly owns 56,568 shares of the company’s stock, valued at approximately $868,318.80. The trade was a 31.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by 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.