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

Thrivent Financial for Lutherans lifted its stake in DNOW Inc. (NYSE:DNOW) by 43.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 owned 0.16% of DNOW worth $2,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hillsdale Investment Management Inc. boosted its position in DNOW by 134.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 439,700 shares of the oil and gas company’s stock worth $6,705,000 after acquiring an additional 252,400 shares during the period. New York State Common Retirement Fund boosted its position in DNOW by 25.3% during the 3rd quarter. New York State Common Retirement Fund now owns 864,495 shares of the oil and gas company’s stock worth $13,184,000 after acquiring an additional 174,544 shares during the period. Y Intercept Hong Kong Ltd boosted its position in DNOW by 58.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 234,617 shares of the oil and gas company’s stock worth $3,578,000 after acquiring an additional 86,509 shares during the period. Allianz Asset Management GmbH boosted its position in DNOW by 15.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,404,668 shares of the oil and gas company’s stock worth $21,421,000 after acquiring an additional 185,727 shares during the period. Finally, Picton Mahoney Asset Management boosted its position in DNOW by 116,545.3% during the 3rd quarter. Picton Mahoney Asset Management now owns 110,813 shares of the oil and gas company’s stock worth $1,689,000 after acquiring an additional 110,718 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Trading Up 0.3%

Shares of NYSE DNOW opened at $13.10 on Tuesday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -17.95 and a beta of 0.85. The business has a 50 day simple moving average of $12.42 and a 200 day simple moving average of $13.35. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42.

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

Analyst Upgrades and Downgrades

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

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.