Dril-Quip (NYSE:DRQ) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Dril-Quip (NYSE:DRQ) in a research note published on Thursday. The brokerage issued a sell rating on the oil and gas company’s stock.

Dril-Quip Price Performance

The business’s 50 day simple moving average is $16.03 and its 200-day simple moving average is $18.82. Dril-Quip has a 52-week low of $14.07 and a 52-week high of $30.93. The company has a market cap of $530.41 million, a PE ratio of -24.08 and a beta of 0.84.

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 for the quarter, missing the consensus estimate of $0.17 by ($0.07). Dril-Quip had a negative return on equity of 2.49% and a negative net margin of 5.69%. The firm had revenue of $120.34 million for the quarter, compared to analyst estimates of $118.85 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. As a group, research analysts expect that Dril-Quip will post 0.45 EPS for the current year.

Insider Buying and Selling at Dril-Quip

In other Dril-Quip news, VP James C. Webster sold 6,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $14.67, for a total value of $88,020.00. Following the completion of the sale, the vice president now owns 56,735 shares of the company’s stock, valued at approximately $832,302.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Trading of Dril-Quip

Institutional investors and hedge funds have recently made changes to their positions in the company. Brandes Investment Partners LP lifted its stake in Dril-Quip by 29.6% in the 2nd quarter. Brandes Investment Partners LP now owns 3,732,716 shares of the oil and gas company’s stock valued at $69,408,000 after purchasing an additional 852,035 shares during the last quarter. Ranger Investment Management L.P. increased its position in shares of 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 worth $25,730,000 after buying an additional 408,076 shares during the period. Gamco Investors INC. ET AL grew its holdings in Dril-Quip by 7.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,116,859 shares of the oil and gas company’s stock worth $49,259,000 after purchasing an additional 144,916 shares during the period. William Blair Investment Management LLC grew its holdings in Dril-Quip by 9.8% in the second quarter. William Blair Investment Management LLC now owns 1,360,291 shares of the oil and gas company’s stock worth $25,301,000 after purchasing an additional 121,681 shares during the period. Finally, Gabelli Funds LLC lifted its stake in shares of Dril-Quip by 21.9% in the first quarter. Gabelli Funds LLC now owns 543,880 shares of the oil and gas company’s stock valued at $12,254,000 after buying an additional 97,800 shares in 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.