Dril-Quip, Inc. (DRQ) Director A P. Shukis Sells 784 Shares

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Dril-Quip, Inc. (NYSE:DRQ) Director A P. Shukis sold 784 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $41.60, for a total transaction of $32,614.40. Following the sale, the director now owns 15,478 shares in the company, valued at $643,884.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NYSE:DRQ opened at $43.15 on Wednesday. Dril-Quip, Inc. has a 52 week low of $38.40 and a 52 week high of $58.95. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 165.96 and a beta of 0.91.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.01. Dril-Quip had a negative net margin of 23.34% and a negative return on equity of 1.95%. The company had revenue of $93.26 million for the quarter, compared to the consensus estimate of $85.96 million. As a group, equities research analysts anticipate that Dril-Quip, Inc. will post -0.84 earnings per share for the current year.

Dril-Quip announced that its Board of Directors has approved a share buyback plan on Thursday, July 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Several large investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY increased its position in shares of Dril-Quip by 4.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,386 shares of the oil and gas company’s stock valued at $1,151,000 after purchasing an additional 1,037 shares during the last quarter. Neuburgh Advisers LLC increased its position in shares of Dril-Quip by 16.3% in the 2nd quarter. Neuburgh Advisers LLC now owns 8,500 shares of the oil and gas company’s stock valued at $437,000 after purchasing an additional 1,190 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Dril-Quip by 4.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 32,691 shares of the oil and gas company’s stock valued at $1,680,000 after purchasing an additional 1,368 shares during the last quarter. Dupont Capital Management Corp increased its position in shares of Dril-Quip by 7.5% in the 2nd quarter. Dupont Capital Management Corp now owns 21,158 shares of the oil and gas company’s stock valued at $1,088,000 after purchasing an additional 1,478 shares during the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of Dril-Quip by 95.9% in the 2nd quarter. First Mercantile Trust Co. now owns 5,080 shares of the oil and gas company’s stock valued at $261,000 after purchasing an additional 2,487 shares during the last quarter.

A number of equities research analysts have issued reports on DRQ shares. Zacks Investment Research lowered shares of Dril-Quip from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 3rd. ValuEngine upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. B. Riley lowered shares of Dril-Quip from a “buy” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $58.00 in a report on Friday, July 20th. Piper Jaffray Companies set a $40.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a report on Friday, July 27th. Finally, Barclays lowered shares of Dril-Quip from an “equal weight” rating to an “underweight” rating and set a $41.00 target price on the stock. in a report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $48.50.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

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