Thrivent Financial for Lutherans Has $2.19 Million Position in DNOW Inc. $DNOW

Thrivent Financial for Lutherans increased its stake in DNOW Inc. (NYSE:DNOW) by 43.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 165,076 shares of the oil and gas company’s stock after purchasing an additional 50,302 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DNOW were worth $2,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DNOW. Vanguard Group Inc. lifted its holdings in DNOW by 66.1% in the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after purchasing an additional 7,762,071 shares during the last quarter. Boston Partners acquired a new stake in DNOW in the 3rd quarter worth approximately $72,302,000. Wellington Management Group LLP lifted its holdings in DNOW by 260.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock worth $57,414,000 after purchasing an additional 2,719,594 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in DNOW in the 3rd quarter worth approximately $32,094,000. Finally, Balyasny Asset Management L.P. lifted its holdings in DNOW by 87.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,182,713 shares of the oil and gas company’s stock worth $18,036,000 after purchasing an additional 552,285 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on DNOW shares. Zacks Research downgraded DNOW from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 24th. Stifel Nicolaus dropped their price target on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

DNOW Stock Performance

Shares of NYSE DNOW opened at $13.10 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $12.42 and its two-hundred day moving average is $13.35. The company has a market cap of $2.39 billion, a P/E ratio of -17.95 and a beta of 0.85. DNOW Inc. has a 12 month low of $10.94 and a 12 month high of $17.26.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The business’s quarterly revenue was up 97.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, equities analysts expect that DNOW Inc. will post 0.31 EPS for the current year.

About DNOW

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.