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

DNOW (NYSE:DNOW) issued its quarterly earnings data on Thursday. The oil and gas company reported $0.25 EPS 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 Stock Performance

Shares of DNOW stock traded up $0.19 on Friday, reaching $17.17. 1,590,380 shares of the stock were exchanged, compared to its average volume of 1,171,101. The firm’s 50 day moving average is $13.97 and its 200-day moving average is $13.45. DNOW has a one year low of $10.75 and a one year high of $18.45. The firm has a market cap of $1.82 billion, a PE ratio of 9.18 and a beta of 1.53.

Insider Transactions at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 56,568 shares in the company, valued at $868,318.80. This represents a 31.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their price target on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday.

DNOW announced that its Board of Directors has authorized a share buyback program on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication 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.