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

DNOW (NYSE:DNOW) announced its quarterly earnings results 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 Stock Up 19.9 %

NYSE:DNOW traded up $2.81 during mid-day trading on Thursday, reaching $16.95. 1,266,341 shares of the stock were exchanged, compared to its average volume of 1,038,032. DNOW has a 1 year low of $9.67 and a 1 year high of $18.45. The company has a 50 day simple moving average of $13.88 and a 200-day simple moving average of $13.41. The stock has a market capitalization of $1.79 billion, a P/E ratio of 9.06 and a beta of 1.53.

Insider Activity

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the company’s stock in a transaction that occurred on 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 directly owns 56,568 shares of the company’s stock, valued at $868,318.80. This represents 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 announced that its Board of Directors has initiated 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 repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are 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.