DNOW Inc. (NYSE:DNOW) Stock Position Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of DNOW Inc. (NYSE:DNOW) by 11.3% during the 4th quarter, HoldingsChannel reports. The firm owned 112,900 shares of the oil and gas company’s stock after selling 14,350 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DNOW were worth $1,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 885 shares in the last quarter. KBC Group NV grew its position in DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 2,754 shares in the last quarter. Coldstream Capital Management Inc. grew its position in DNOW by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after purchasing an additional 1,291 shares in the last quarter. HighTower Advisors LLC increased its stake in DNOW by 9.7% in the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 1,458 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in DNOW in the 3rd quarter worth approximately $214,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Stock Performance

Shares of DNOW opened at $17.06 on Monday. The firm has a market cap of $1.80 billion, a PE ratio of 23.36 and a beta of 1.51. The firm’s 50 day moving average price is $15.54 and its 200 day moving average price is $14.11. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. On average, sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its Board of Directors has authorized a share buyback plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

DNOW 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.