DNOW Inc. (NYSE:DNOW) Short Interest Update

DNOW Inc. (NYSE:DNOW) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 3,840,000 shares, agrowthof48.8% from the June 30th total of 2,580,000 shares. Approximately3.7% of the company’s shares are sold short. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is presently 3.6 days. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is presently 3.6 days. Approximately3.7% of the company’s shares are sold short.

DNOW Stock Down 7.1%

NYSE DNOW opened at $14.17 on Thursday. DNOW has a 12-month low of $11.42 and a 12-month high of $18.45. The firm’s 50 day moving average is $14.80 and its 200-day moving average is $15.26. The company has a market capitalization of $1.50 billion, a PE ratio of 19.14 and a beta of 1.13.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. DNOW had a return on equity of 9.00% and a net margin of 3.40%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, sell-side analysts expect that DNOW will post 0.86 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DNOW shares. Stifel Nicolaus decreased their target price on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, July 21st. Wall Street Zen upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Finally, Susquehanna lowered their target price on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th.

Institutional Investors Weigh In On DNOW

A number of institutional investors have recently made changes to their positions in DNOW. JPMorgan Chase & Co. lifted its position in DNOW by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock worth $23,985,000 after purchasing an additional 112,135 shares during the period. Norges Bank bought a new stake in shares of DNOW during the 4th quarter worth approximately $3,856,000. Pictet Asset Management Holding SA increased its stake in DNOW by 23.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 2,947 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in DNOW during the fourth quarter valued at approximately $226,000. Finally, Wells Fargo & Company MN raised its position in DNOW by 11.5% during the fourth quarter. Wells Fargo & Company MN now owns 70,518 shares of the oil and gas company’s stock valued at $917,000 after purchasing an additional 7,259 shares in the last quarter. 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.