DNOW Inc. (NYSE:DNOW) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its stake in DNOW Inc. (NYSE:DNOW) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,014 shares of the oil and gas company’s stock after selling 2,002 shares during the quarter. MetLife Investment Management LLC’s holdings in DNOW were worth $776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in DNOW by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the oil and gas company’s stock worth $737,000 after purchasing an additional 1,000 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of DNOW by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock worth $947,000 after buying an additional 1,068 shares during the last quarter. KBC Group NV boosted its position in shares of DNOW by 45.5% in the 3rd 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 in the last quarter. Arizona State Retirement System grew its stake in DNOW by 4.3% in the 2nd quarter. Arizona State Retirement System now owns 30,485 shares of the oil and gas company’s stock valued at $419,000 after acquiring an additional 1,263 shares during the last quarter. Finally, Highland Capital Management LLC increased its holdings in DNOW by 11.3% during the 3rd quarter. Highland Capital Management LLC now owns 16,417 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 1,669 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Insider Transactions at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the firm’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 sale, the director now owns 56,568 shares in the company, valued at $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

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

DNOW Stock Down 1.5 %

NYSE DNOW opened at $14.63 on Friday. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The business has a fifty day moving average of $13.42 and a 200-day moving average of $13.39. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 7.82 and a beta of 1.50.

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 analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. As a group, analysts anticipate that DNOW Inc. will post 0.81 EPS for the current year.

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.