DNOW (NYSE:DNOW) Issues Quarterly Earnings Results, Beats Expectations By $0.14 EPS

DNOW (NYSE:DNOW) posted its earnings results on Thursday. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate 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 Stock Performance

Shares of NYSE DNOW traded up $0.08 during midday trading on Friday, reaching $17.06. The stock had a trading volume of 450,926 shares, compared to its average volume of 1,049,855. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 9.12 and a beta of 1.53. DNOW has a twelve month low of $10.75 and a twelve month high of $18.45. The company’s 50 day moving average price is $13.88 and its 200 day moving average price is $13.41.

DNOW declared that its Board of Directors has initiated a share buyback program on Friday, January 24th that permits the company to repurchase $160.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction on 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 in the company, valued at $868,318.80. The trade was a 31.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.