Dril-Quip (NYSE:DRQ) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Dril-Quip (NYSE:DRQ) in a note issued to investors on Wednesday. The firm set a “sell” rating on the oil and gas company’s stock.

Dril-Quip Stock Performance

Shares of Dril-Quip stock opened at $15.41 on Wednesday. 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 has a fifty day moving average of $16.26 and a 200-day moving average of $18.95. Dril-Quip has a 52-week low of $14.07 and a 52-week high of $30.93.

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

Insiders Place Their Bets

In related news, VP James C. Webster sold 6,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the completion of the sale, the vice president now directly owns 56,735 shares in the company, valued at approximately $832,302.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Dril-Quip

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp increased its position in shares of Dril-Quip by 13.5% during the fourth quarter. Stifel Financial Corp now owns 672,614 shares of the oil and gas company’s stock valued at $15,652,000 after buying an additional 79,885 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Dril-Quip during the 1st quarter worth approximately $905,000. Gabelli Funds LLC raised its position in shares of Dril-Quip by 21.9% in the 1st quarter. Gabelli Funds LLC now owns 543,880 shares of the oil and gas company’s stock worth $12,254,000 after acquiring an additional 97,800 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Dril-Quip by 32.4% in the 1st quarter. Russell Investments Group Ltd. now owns 320,895 shares of the oil and gas company’s stock valued at $7,230,000 after purchasing an additional 78,437 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Dril-Quip by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,867,476 shares of the oil and gas company’s stock valued at $89,996,000 after purchasing an additional 45,964 shares in 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.