JPMorgan Chase & Co. Acquires 54,660 Shares of DNOW Inc. (NYSE:DNOW)

JPMorgan Chase & Co. increased its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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. owned approximately 1.64% of DNOW worth $22,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of DNOW. Franklin Resources Inc. grew its holdings in shares of DNOW by 0.6% during the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock valued at $2,761,000 after buying an additional 1,278 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company's stock valued at $182,000 after acquiring an additional 1,291 shares in the last quarter. Barclays PLC increased its holdings in shares of DNOW by 44.6% in the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company's stock valued at $4,484,000 after purchasing an additional 106,927 shares during the period. iSAM Funds UK Ltd purchased a new stake in shares of DNOW in the third quarter worth approximately $214,000. Finally, Wellington Management Group LLP boosted its holdings in shares of DNOW by 0.8% during the third quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company's stock worth $14,718,000 after purchasing an additional 8,675 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

Insider Transactions at DNOW

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the 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 $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.60% of the company's stock.

DNOW Price Performance

DNOW traded up $0.01 on Thursday, reaching $12.95. 494,185 shares of the company traded hands, compared to its average volume of 449,197. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 6.93 and a beta of 1.53. The stock's 50 day moving average price is $13.94 and its 200-day moving average price is $13.35.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. DNOW's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, equities research analysts forecast that DNOW Inc. will post 0.81 earnings per share 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.