Blake T. Deberry Sells 10,000 Shares of Dril-Quip, Inc. (DRQ) Stock
Dril-Quip, Inc. (NYSE:DRQ) insider Blake T. Deberry sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $44.66, for a total value of $446,600.00. Following the transaction, the insider now owns 126,208 shares in the company, valued at $5,636,449.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Dril-Quip, Inc. (NYSE:DRQ) opened at $44.80 on Friday. The stock has a market capitalization of $1,696.17, a P/E ratio of 106.67 and a beta of 0.68. Dril-Quip, Inc. has a 12-month low of $35.85 and a 12-month high of $69.40.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The firm’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. analysts anticipate that Dril-Quip, Inc. will post 0.18 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in DRQ. Legal & General Group Plc raised its position in Dril-Quip by 124.8% in the first quarter. Legal & General Group Plc now owns 23,850 shares of the oil and gas company’s stock valued at $1,301,000 after purchasing an additional 13,239 shares during the period. Vanguard Group Inc. raised its position in Dril-Quip by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,108,114 shares of the oil and gas company’s stock valued at $169,548,000 after purchasing an additional 124,962 shares during the period. BlackRock Inc. raised its position in Dril-Quip by 8,615.2% in the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after purchasing an additional 3,540,338 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Dril-Quip by 14.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 167,774 shares of the oil and gas company’s stock worth $9,153,000 after acquiring an additional 21,549 shares during the period. Finally, State Street Corp increased its position in shares of Dril-Quip by 2.7% during the first quarter. State Street Corp now owns 1,180,848 shares of the oil and gas company’s stock worth $64,416,000 after acquiring an additional 31,362 shares during the period.
A number of research firms recently commented on DRQ. Piper Jaffray Companies reiterated a “hold” rating and issued a $38.00 price objective on shares of Dril-Quip in a report on Friday, November 10th. Zacks Investment Research cut Dril-Quip from a “buy” rating to a “hold” rating in a report on Friday, November 10th. B. Riley reiterated a “buy” rating on shares of Dril-Quip in a report on Wednesday, November 1st. Wolfe Research upgraded Dril-Quip from an “underperform” rating to a “market perform” rating in a report on Tuesday, October 31st. Finally, TheStreet cut Dril-Quip from a “c” rating to a “d+” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Dril-Quip currently has an average rating of “Hold” and a consensus price target of $48.57.
Dril-Quip Company Profile
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
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