Thrivent Financial for Lutherans Decreases Stake in NOW Inc. (NYSE:DNOW)

Thrivent Financial for Lutherans trimmed its position in shares of NOW Inc. (NYSE:DNOW – Get Rating) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 113,284 shares of the oil and gas company’s stock after selling 1,304 shares during the quarter. Thrivent Financial for Lutherans’ holdings in NOW were worth $1,439,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DNOW. Bank of New York Mellon Corp boosted its position in NOW by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 1,119,251 shares of the oil and gas company’s stock worth $12,345,000 after purchasing an additional 30,031 shares in the last quarter. Citigroup Inc. boosted its position in NOW by 5.1% during the first quarter. Citigroup Inc. now owns 105,268 shares of the oil and gas company’s stock worth $1,161,000 after purchasing an additional 5,070 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in NOW by 60.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,546 shares in the last quarter. MetLife Investment Management LLC boosted its position in NOW by 63.5% during the first quarter. MetLife Investment Management LLC now owns 57,892 shares of the oil and gas company’s stock worth $639,000 after purchasing an additional 22,488 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of NOW by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,313 shares of the oil and gas company’s stock worth $1,051,000 after acquiring an additional 11,752 shares during the last quarter. 95.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DNOW has been the subject of a number of analyst reports. TheStreet raised NOW from a “c+” rating to a “b” rating in a report on Friday, May 12th. Stifel Nicolaus cut their price target on NOW from $16.00 to $14.00 and set a “buy” rating for the company in a report on Monday, April 17th. StockNews.com initiated coverage on NOW in a report on Thursday. They issued a “buy” rating for the company. Finally, Susquehanna cut their price target on NOW from $14.00 to $12.50 in a report on Monday, April 3rd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, NOW presently has a consensus rating of “Moderate Buy” and an average price target of $13.83.

NOW Trading Up 0.1 %

NOW stock opened at $9.45 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 8.29 and a beta of 1.61. The stock has a fifty day moving average price of $10.33 and a 200 day moving average price of $11.95. NOW Inc. has a 52 week low of $8.79 and a 52 week high of $14.86.

NOW (NYSE:DNOW – Get Rating) last released its earnings results on Thursday, May 4th. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $584.00 million during the quarter, compared to analyst estimates of $566.63 million. NOW had a return on equity of 14.67% and a net margin of 5.74%. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, equities analysts predict that NOW Inc. will post 1.03 EPS for the current year.

NOW Profile

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NOW Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.