DNOW (NYSE:DNOW - Get Free Report) released its quarterly earnings data on Thursday. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.14, Zacks reports. DNOW had a return on equity of 8.90% and a net margin of 8.70%.
DNOW Stock Performance
Shares of NYSE DNOW traded up $0.19 during mid-day trading on Monday, hitting $17.17. 1,590,380 shares of the stock were exchanged, compared to its average volume of 1,171,101. DNOW has a twelve month low of $10.75 and a twelve month high of $18.45. The stock's fifty day simple moving average is $13.97 and its two-hundred day simple moving average is $13.42. The company has a market cap of $1.82 billion, a P/E ratio of 9.18 and a beta of 1.53.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus upped their price target on DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Friday.
Check Out Our Latest Report on DNOW
Insider Transactions at DNOW
In other DNOW 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 sale, the director now owns 56,568 shares of the company's stock, valued at $868,318.80. This represents a 31.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.
DNOW announced that its Board of Directors has authorized a stock buyback program on Friday, January 24th that permits the company to buyback $160.00 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.
About DNOW
(
Get Free Report)
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.
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