DNOW Inc. (NYSE:DNOW) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in DNOW Inc. (NYSE:DNOW) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 owned about 0.11% of DNOW worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of DNOW by 9.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock valued at $82,063,000 after purchasing an additional 543,403 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in DNOW by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock valued at $27,212,000 after buying an additional 25,402 shares during the period. JPMorgan Chase & Co. raised its position in shares of DNOW by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company’s stock worth $22,388,000 after buying an additional 54,660 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of DNOW by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company’s stock worth $14,718,000 after acquiring an additional 8,675 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of DNOW by 15.1% in the fourth quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company’s stock valued at $9,177,000 after acquiring an additional 92,769 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

DNOW Trading Down 1.4 %

NYSE:DNOW opened at $17.06 on Monday. The company has a 50-day moving average of $15.54 and a 200-day moving average of $14.11. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 23.36 and a beta of 1.51. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping 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, research analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its Board of Directors has initiated a share repurchase program on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.