Thrivent Financial for Lutherans Reduces Position in DNOW Inc. $DNOW

Thrivent Financial for Lutherans trimmed its stake in DNOW Inc. (NYSE:DNOW) by 23.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,774 shares of the oil and gas company’s stock after selling 34,352 shares during the period. Thrivent Financial for Lutherans’ holdings in DNOW were worth $1,750,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of DNOW by 2,101.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 2,501 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of DNOW during the 3rd quarter valued at approximately $44,000. EMC Capital Management bought a new position in shares of DNOW during the 2nd quarter valued at approximately $101,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in DNOW during the 3rd quarter worth approximately $156,000. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DNOW. Wall Street Zen lowered shares of DNOW from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Stifel Nicolaus restated a “buy” rating and set a $18.00 target price on shares of DNOW in a research note on Monday, November 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of DNOW in a research note on Monday, December 29th. Zacks Research raised DNOW from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Finally, KeyCorp set a $19.00 price objective on DNOW in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, DNOW has an average rating of “Buy” and an average price target of $17.67.

DNOW Stock Performance

Shares of NYSE DNOW opened at $16.59 on Thursday. The company has a market cap of $1.74 billion, a P/E ratio of 19.07 and a beta of 0.79. DNOW Inc. has a 52-week low of $12.01 and a 52-week high of $18.45. The firm’s fifty day moving average is $14.34 and its two-hundred day moving average is $14.60.

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.