Thrivent Financial for Lutherans Sells 5,052 Shares of DNOW Inc. (NYSE:DNOW)

Thrivent Financial for Lutherans lowered its position in shares of DNOW Inc. (NYSE:DNOW) by 3.8% during the third quarter, HoldingsChannel.com reports. The fund owned 127,250 shares of the oil and gas company’s stock after selling 5,052 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DNOW were worth $1,645,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DNOW. Allspring Global Investments Holdings LLC increased its holdings in DNOW by 1,062.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 2,561 shares in the last quarter. KBC Group NV grew its position in shares of DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,190 shares during the period. Quarry LP grew its position in shares of DNOW by 75.6% during the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,908 shares during the period. Innealta Capital LLC bought a new stake in shares of DNOW in the 2nd quarter valued at $67,000. Finally, nVerses Capital LLC acquired a new position in shares of DNOW during the 3rd quarter valued at $78,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the sale, the director now owns 56,568 shares in the company, valued at $868,318.80. This trade represents a 31.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

DNOW Price Performance

Shares of DNOW stock opened at $15.05 on Friday. The firm has a 50-day moving average of $13.19 and a 200-day moving average of $13.36. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The company has a market cap of $1.59 billion, a P/E ratio of 8.05 and a beta of 1.45.

DNOW (NYSE:DNOW) last announced its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. As a group, research analysts expect that DNOW Inc. will post 0.84 earnings per share for the current fiscal year.

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.