DNOW (NYSE:DNOW) Posts Quarterly Earnings Results

DNOW (NYSE:DNOW) posted its quarterly earnings results on Thursday. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14, Zacks reports. DNOW had a net margin of 8.70% and a return on equity of 8.90%.

DNOW Price Performance

DNOW traded up $2.81 during midday trading on Thursday, reaching $16.95. 1,266,341 shares of the company’s stock were exchanged, compared to its average volume of 1,038,032. The business’s 50-day moving average price is $13.88 and its 200 day moving average price is $13.41. The stock has a market capitalization of $1.79 billion, a PE ratio of 9.06 and a beta of 1.53. DNOW has a 1-year low of $9.67 and a 1-year high of $18.45.

Insider Transactions at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction dated Wednesday, November 27th. The stock was 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 approximately $868,318.80. This trade represents a 31.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

DNOW declared that its board has authorized a stock buyback plan on Friday, January 24th that allows the company to buyback $160.00 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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.