Dril-Quip (NYSE:DRQ) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Dril-Quip (NYSE:DRQ) in a report issued on Friday. The firm issued a sell rating on the oil and gas company’s stock.

Dril-Quip Price Performance

Shares of DRQ stock opened at $15.41 on Friday. The stock has a market capitalization of $530.41 million, a price-to-earnings ratio of -24.08 and a beta of 0.84. The company’s fifty day simple moving average is $15.98 and its two-hundred day simple moving average is $18.76. Dril-Quip has a 1 year low of $14.07 and a 1 year high of $30.93.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.49%. The company had revenue of $120.34 million for the quarter, compared to the consensus estimate of $118.85 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. Equities research analysts anticipate that Dril-Quip will post 0.45 EPS for the current year.

Insider Activity at Dril-Quip

In other Dril-Quip news, VP James C. Webster sold 6,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $14.67, for a total value of $88,020.00. Following the sale, the vice president now directly owns 56,735 shares in the company, valued at $832,302.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dril-Quip

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Dril-Quip by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,878,263 shares of the oil and gas company’s stock valued at $87,377,000 after acquiring an additional 10,787 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Dril-Quip by 29.6% in the second quarter. Brandes Investment Partners LP now owns 3,732,716 shares of the oil and gas company’s stock worth $69,408,000 after purchasing an additional 852,035 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Dril-Quip by 4.4% in the first quarter. Gamco Investors INC. ET AL now owns 2,209,616 shares of the oil and gas company’s stock valued at $49,783,000 after purchasing an additional 92,757 shares in the last quarter. William Blair Investment Management LLC lifted its position in Dril-Quip by 9.8% during the second quarter. William Blair Investment Management LLC now owns 1,360,291 shares of the oil and gas company’s stock valued at $25,301,000 after purchasing an additional 121,681 shares during the last quarter. Finally, Ranger Investment Management L.P. lifted its position in Dril-Quip by 58.5% during the fourth quarter. Ranger Investment Management L.P. now owns 1,105,735 shares of the oil and gas company’s stock valued at $25,730,000 after purchasing an additional 408,076 shares during the last quarter.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for offshore and onshore applications worldwide. The company’s principal products include subsea and surface wellheads, specialty connectors and associated pipes, subsea production trees and systems, mudline hanger systems, production riser systems, dry tree systems, subsea manifolds, line hangers and expandable liner systems, multi-frac well connections, conventional wellheads, thermal wellheads, completion packers, and safety and kelly valves; and rig equipment comprises drilling riser systems, wellhead connectors, diverters, and cement manifolds.