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CM - Oilfield Services Briefs - March 07, 2019
Directors of Dril-Quip, Inc. authorized a repurchase program for up to $100 million of its common stock outstanding following the completion of a previous $100 million stock repurchase plan that concluded in 4Q18. Repurchased shares will be canceled. President and CEO Blake DeBerry said, “We believe share buybacks are a very good way to return cash to our shareholders.” The NYSE-listed maker of drilling and production equipment currently has 36.4 million shares outstanding at $42.37 each with a 52-week high/low price of $58.95/$26.62. Private equity firm First Reserve agreed......
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