DNOW (NYSE:DNOW) Sees Large Volume Increase - Should You Buy?

DNOW Inc. (NYSE:DNOW - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 300,747 shares were traded during mid-day trading, a decline of 37% from the previous session's volume of 475,580 shares.The stock last traded at $13.49 and had previously closed at $13.42.

DNOW Stock Up 0.4 %

The company has a market cap of $1.43 billion, a price-to-earnings ratio of 7.21 and a beta of 1.53. The firm has a 50 day moving average price of $14.03 and a two-hundred day moving average price of $13.33.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The company 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 business's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. On average, equities analysts expect 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 stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total value of $401,955.10. Following the transaction, the director now owns 56,568 shares in the company, valued at approximately $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV lifted 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 valued at $49,000 after purchasing an additional 1,190 shares in the last quarter. Quarry LP lifted its stake in DNOW by 75.6% during the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company's stock valued at $61,000 after acquiring an additional 1,908 shares in the last quarter. nVerses Capital LLC purchased a new position in DNOW during the 3rd quarter worth $78,000. Quest Partners LLC purchased a new position in DNOW during the 2nd quarter worth $94,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of DNOW in the 2nd quarter worth $95,000. Institutional investors own 97.63% of the company's stock.

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.