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

Stock analysts at StockNews.com started coverage on shares of Dril-Quip (NYSE:DRQ) in a research report issued on Thursday. The firm set a “sell” rating on the oil and gas company’s stock.

Dril-Quip Price Performance

The company has a 50 day moving average price of $16.03 and a 200-day moving average price of $18.82. Dril-Quip has a 52 week low of $14.07 and a 52 week high of $30.93. The stock has a market capitalization of $530.41 million, a P/E ratio of -24.08 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last issued its earnings results on Thursday, August 1st. The oil and gas company reported $0.10 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 firm had revenue of $120.34 million during the quarter, compared to analysts’ expectations of $118.85 million. During the same quarter last year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was up 34.3% compared to the same quarter last year. On average, equities research analysts forecast that Dril-Quip will post 0.45 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was 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 $832,302.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Dril-Quip

Several large investors have recently made changes to their positions in DRQ. CWM LLC lifted its position in shares of Dril-Quip by 564.0% during the 2nd quarter. CWM LLC now owns 2,696 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 2,290 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of Dril-Quip during the 2nd quarter worth about $52,000. Central Pacific Bank Trust Division acquired a new position in shares of Dril-Quip during the 1st quarter worth about $104,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Dril-Quip during the 1st quarter worth about $219,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Dril-Quip by 37.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock worth $221,000 after purchasing an additional 2,569 shares during the last quarter.

About Dril-Quip

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.