Dril-Quip CEO Unloads $198,062 in Stock (DRQ)
Dril-Quip (NYSE:DRQ) CEO Blake Deberry sold 1,702 shares of the stock on the open market in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $116.37, for a total value of $198,061.74. Following the completion of the sale, the chief executive officer now directly owns 27,389 shares in the company, valued at approximately $3,187,258. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
DRQ has been the subject of a number of recent research reports. Analysts at Robert W. Baird initiated coverage on shares of Dril-Quip in a research note to investors on Monday, October 14th. They set a “neutral” rating and a $129.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Dril-Quip from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 18th. They now have a $137.00 price target on the stock. Finally, analysts at Howard Weil upgraded shares of Dril-Quip from a “sector perform” rating to an “outperform” rating in a research note to investors on Wednesday, August 28th. They now have a $130.00 price target on the stock, up previously from $101.00. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Dril-Quip has a consensus rating of “Buy” and an average target price of $116.18.
Shares of Dril-Quip (NYSE:DRQ) traded up 1.74% on Tuesday, hitting $118.86. 173,877 shares of the company’s stock traded hands. Dril-Quip has a 1-year low of $65.16 and a 1-year high of $112.54. The stock has a 50-day moving average of $102.6 and a 200-day moving average of $91.59. The company has a market cap of $4.834 billion and a P/E ratio of 33.18.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.88 by $0.17. The company had revenue of $222.00 million for the quarter, compared to the consensus estimate of $202.13 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. On average, analysts predict that Dril-Quip will post $4.08 earnings per share for the current fiscal year.
Dril-Quip, Inc (NYSE:DRQ), designs, manufactures, sells and services offshore drilling and production equipment for use in deepwater, harsh environment and severe service applications.
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