Today it was reported that the President & CEO of Dril-Quip (DRQ), Blake Deberry, exercised options to sell 10,000 DRQ shares at $48.77 a share, for a total transaction value of $516.3K.
Following Blake Deberry’s last DRQ Sell transaction on November 17, 2017, the stock climbed by 7.7%.
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Based on Dril-Quip’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $104 million and quarterly net profit of $1.68 million. In comparison, last year the company earned revenue of $94.86 million and had a GAAP net loss of $3.04 million. Currently, Dril-Quip has an average volume of 453.2K.
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Dril-Quip, Inc. designs, manufactures, sells and services engineered offshore drilling and production equipment that is well suited for use in deepwater, harsh environment and severe service applications. Its products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters which are used by major integrated, large independent and foreign national oil and gas companies in offshore areas throughout the world. The company was founded by Larry E. Reimert, Gary W. Loveless, Gary D. Smith and J. Mike Walker in 1981 and is headquartered in Houston, TX.
