DNOW (DNOW) to Release Earnings on Thursday

DNOW (NYSE:DNOW) will likely be announcing its earnings results before the market opens on Thursday, February 13th. Analysts expect the company to announce earnings of $0.14 per share and revenue of $552.87 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

DNOW Price Performance

NYSE:DNOW opened at $14.04 on Tuesday. DNOW has a 1-year low of $9.44 and a 1-year high of $15.65. The firm has a 50 day simple moving average of $13.94 and a 200-day simple moving average of $13.42. The firm has a market cap of $1.49 billion, a PE ratio of 7.51 and a beta of 1.53.

DNOW announced that its board has initiated a share buyback program on Friday, January 24th that allows the company to buyback $160.00 million in shares. This buyback authorization allows the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of DNOW 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 sale, the director now owns 56,568 shares in the company, valued at $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

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.