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

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

Dril-Quip Stock Performance

The company’s 50 day simple moving average is $15.98 and its 200 day simple moving average is $18.76. Dril-Quip has a 52 week low of $14.07 and a 52 week high of $30.93. The company has a market capitalization of $530.41 million, a PE ratio of -24.08 and a beta of 0.84.

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

Insider Activity

In other Dril-Quip news, VP James C. Webster sold 6,000 shares of Dril-Quip 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 transaction, the vice president now owns 56,735 shares in the company, valued at $832,302.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Dril-Quip

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRQ. CWM LLC lifted its stake in shares of Dril-Quip by 564.0% during the second quarter. CWM LLC now owns 2,696 shares of the oil and gas company’s stock worth $50,000 after buying an additional 2,290 shares during the period. Kings Path Partners LLC acquired a new stake in Dril-Quip during the 2nd quarter worth about $52,000. Central Pacific Bank Trust Division purchased a new stake in Dril-Quip during the 1st quarter valued at about $104,000. Price T Rowe Associates Inc. MD purchased a new stake in Dril-Quip during the 1st quarter valued at about $219,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Dril-Quip by 37.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 2,569 shares during the period.

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.