Dril-Quip (NYSE:DRQ) Shares Down 2.4%

Shares of Dril-Quip, Inc. (NYSE:DRQ) fell 2.4% on Friday . The company traded as low as $16.07 and last traded at $16.07. 9,448 shares were traded during trading, a decline of 96% from the average session volume of 256,256 shares. The stock had previously closed at $16.46.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DRQ. StockNews.com cut Dril-Quip from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays lowered their target price on shares of Dril-Quip from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 14th.

Dril-Quip Stock Down 3.4 %

The firm has a market capitalization of $547.28 million, a PE ratio of -25.09 and a beta of 0.87. The company has a 50-day moving average of $16.62 and a 200 day moving average of $19.22.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results 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). The business had revenue of $120.34 million for the quarter, compared to the consensus estimate of $118.85 million. Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.48%. The business’s revenue was up 34.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. As a group, equities analysts anticipate that Dril-Quip, Inc. will post 0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP James C. Webster sold 6,000 shares of the firm’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 sale, the vice president now owns 56,735 shares in the company, valued at approximately $832,302.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Dril-Quip

Hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp raised its holdings in shares of Dril-Quip by 13.5% during the 4th 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 in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Dril-Quip during the 1st quarter valued at $905,000. Gabelli Funds LLC boosted its holdings in shares of Dril-Quip by 21.9% during the first quarter. Gabelli Funds LLC now owns 543,880 shares of the oil and gas company’s stock worth $12,254,000 after purchasing an additional 97,800 shares during the period. Russell Investments Group Ltd. grew its position 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 worth $7,230,000 after buying an additional 78,437 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Dril-Quip by 1.2% in 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 acquiring an additional 45,964 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.