DNOW (NYSE:DNOW) Issues Earnings Results

DNOW (NYSE:DNOW) posted its quarterly earnings data on Thursday. The oil and gas company reported $0.25 earnings per share for the quarter, beating 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 Trading Up 20.2 %

NYSE:DNOW traded up $2.86 on Thursday, reaching $17.00. The stock had a trading volume of 1,322,618 shares, compared to its average volume of 1,041,253. The company has a 50-day moving average of $13.88 and a 200 day moving average of $13.41. The stock has a market cap of $1.80 billion, a P/E ratio of 9.08 and a beta of 1.53. DNOW has a 12-month low of $9.67 and a 12-month high of $18.45.

Insider Buying and Selling at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the transaction, the director now owns 56,568 shares of the company’s stock, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

DNOW declared that its board has authorized a share repurchase plan on Friday, January 24th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.