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

Thrivent Financial for Lutherans trimmed its holdings in shares of DNOW Inc. (NYSE:DNOW) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,250 shares of the oil and gas company’s stock after selling 5,052 shares during the quarter. Thrivent Financial for Lutherans owned about 0.12% of DNOW worth $1,645,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of DNOW. Allspring Global Investments Holdings LLC increased its holdings in shares of DNOW by 1,062.7% during 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 during the period. KBC Group NV grew its position in DNOW by 45.5% during the third 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 in the last quarter. Quarry LP increased its stake in 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 acquiring an additional 1,908 shares during the period. Innealta Capital LLC bought a new stake in shares of DNOW during the 2nd quarter valued at $67,000. Finally, nVerses Capital LLC bought a new stake in shares of DNOW during the 3rd quarter valued at $78,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at DNOW

In other DNOW 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 value of $401,955.10. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

DNOW Trading Down 0.5 %

Shares of DNOW stock opened at $15.05 on Friday. The company has a 50 day moving average of $13.19 and a 200-day moving average of $13.36. The company has a market cap of $1.59 billion, a PE ratio of 8.05 and a beta of 1.45. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The firm had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts forecast that DNOW Inc. will post 0.84 earnings per share for the current year.

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.