Verition Fund Management LLC Increases Stock Holdings in DNOW Inc. (NYSE:DNOW)

Verition Fund Management LLC boosted its stake in shares of DNOW Inc. (NYSE:DNOW) by 181.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,283 shares of the oil and gas company’s stock after buying an additional 18,251 shares during the period. Verition Fund Management LLC’s holdings in DNOW were worth $366,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in DNOW by 1,062.7% in 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 purchasing an additional 2,561 shares during the last quarter. KBC Group NV raised its holdings in shares of DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,190 shares during the period. Quarry LP lifted its stake in shares of DNOW by 75.6% during the 2nd 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 during the last quarter. Innealta Capital LLC bought a new stake in shares of DNOW during the 2nd quarter worth approximately $67,000. Finally, nVerses Capital LLC purchased a new position in DNOW during the 3rd quarter valued at $78,000. 97.63% of the stock is currently owned by institutional investors.

Insider Activity at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total value of $401,955.10. Following the completion of the sale, the director now directly owns 56,568 shares in the company, valued at $868,318.80. The trade was a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

DNOW Stock Down 1.0 %

DNOW stock opened at $14.42 on Friday. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 7.71 and a beta of 1.50. The business’s fifty day simple moving average is $13.62 and its two-hundred day simple moving average is $13.42.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 8.70% and a return on equity of 8.90%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Research analysts expect that DNOW Inc. will post 0.81 EPS for the current year.

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.