Dril-Quip, Inc. (DRQ) Director Sells $26,236.40 in Stock
Dril-Quip, Inc. (NYSE:DRQ) Director A P. Shukis sold 613 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $42.80, for a total transaction of $26,236.40. Following the completion of the transaction, the director now owns 12,282 shares in the company, valued at $525,669.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Dril-Quip, Inc. (DRQ) traded up 1.45% during mid-day trading on Tuesday, hitting $42.10. 1,066,096 shares of the stock traded hands. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 78.25 and a beta of 0.69. Dril-Quip, Inc. has a 12 month low of $35.85 and a 12 month high of $69.40. The firm has a 50 day moving average of $42.69 and a 200 day moving average of $46.33.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.06. The company had revenue of $100.35 million during the quarter, compared to analysts’ expectations of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. On average, equities analysts expect that Dril-Quip, Inc. will post $0.09 EPS for the current fiscal year.
Several research firms have weighed in on DRQ. Cowen and Company reiterated a “market perform” rating and issued a $39.00 price target (down from $43.00) on shares of Dril-Quip in a research report on Monday. Wolfe Research upgraded shares of Dril-Quip from an “underperform” rating to a “market perform” rating in a research report on Tuesday. FBR & Co restated a “buy” rating on shares of Dril-Quip in a research report on Friday. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the company a “hold” rating in a research report on Friday. Finally, TheStreet downgraded shares of Dril-Quip from a “c” rating to a “d+” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $51.00.
A number of large investors have recently bought and sold shares of the business. Frontier Capital Management Co. LLC raised its position in Dril-Quip by 22.2% during the third quarter. Frontier Capital Management Co. LLC now owns 164,238 shares of the oil and gas company’s stock worth $7,251,000 after acquiring an additional 29,788 shares during the period. Palisade Capital Management LLC NJ raised its position in Dril-Quip by 19.1% during the third quarter. Palisade Capital Management LLC NJ now owns 136,969 shares of the oil and gas company’s stock worth $6,047,000 after acquiring an additional 21,963 shares during the period. Bridge City Capital LLC raised its position in Dril-Quip by 8.7% during the third quarter. Bridge City Capital LLC now owns 18,708 shares of the oil and gas company’s stock worth $826,000 after acquiring an additional 1,497 shares during the period. Tocqueville Asset Management L.P. raised its position in Dril-Quip by 8.2% during the third quarter. Tocqueville Asset Management L.P. now owns 95,364 shares of the oil and gas company’s stock worth $4,210,000 after acquiring an additional 7,245 shares during the period. Finally, Speece Thorson Capital Group Inc. raised its position in Dril-Quip by 1.2% during the third quarter. Speece Thorson Capital Group Inc. now owns 337,490 shares of the oil and gas company’s stock worth $14,900,000 after acquiring an additional 3,893 shares during the period.
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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