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Shares of Dril-Quip Inc Rise Above Previous 52-Week High

By David Diaz

Dril-Quip Inc (NYSE:DRQ) traded today at a new 52-week high of $55.79. So far today approximately 84,000 shares have been exchanged, as compared to an average 30-day volume of 328,000 shares.

Dril-Quip, Inc. designs and manufactures offshore drilling and production equipment. The Company's equipment consists of subsea, surface, and offshore rig equipment for use by oil and gas companies in offshore areas throughout the world. Dril-Quip provides installation and reconditioning services, and also rents running tools.

In the past 52 weeks, shares of Dril-Quip Inc have traded between a low of $26.62 and a high of $55.79 and are now at $54.49, which is 105% above that low price. The 200-day and 50-day moving averages have moved 0.67% higher and 1.12% higher over the past week, respectively.

Dril-Quip Inc (NYSE:DRQ) is currently priced 22.3% above its average consensus analyst price target of $42.33. The stock should find initial support at its 50-day moving average (MA) of $47.95 and further support at its 200-day MA of $42.19.

SmarTrend is monitoring the recent change of momentum in Dril-Quip Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Dril-Quip Inc in search of a potential trend change.

Keywords: 52 week high/lows dril-quip inc

Ticker(s): DRQ