JPMorgan Chase & Co. Has $22.39 Million Stock Position in DNOW Inc. (NYSE:DNOW)

JPMorgan Chase & Co. raised its position in DNOW Inc. (NYSE:DNOW) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,731,485 shares of the oil and gas company’s stock after purchasing an additional 54,660 shares during the quarter. JPMorgan Chase & Co.’s holdings in DNOW were worth $22,388,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DNOW. Pacer Advisors Inc. raised its stake in shares of DNOW by 71.5% in the 2nd quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock valued at $96,768,000 after acquiring an additional 2,939,502 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in DNOW by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock valued at $88,511,000 after purchasing an additional 390,671 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of DNOW by 1.6% in the second quarter. Renaissance Technologies LLC now owns 3,819,745 shares of the oil and gas company’s stock valued at $52,445,000 after purchasing an additional 59,653 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of DNOW by 1.2% in the second 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 buying an additional 42,384 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its holdings 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 worth $33,908,000 after buying an additional 48,900 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were 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 owns 56,568 shares in the company, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

DNOW Price Performance

DNOW stock opened at $12.95 on Thursday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 6.93 and a beta of 1.53. The company has a 50-day moving average of $13.91 and a two-hundred day moving average of $13.35. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (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 analyst estimates of $614.92 million. During the same period last year, the business posted $0.25 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts expect that DNOW Inc. will post 0.81 EPS for the current fiscal 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.