James C. Webster Sells 4,000 Shares of Dril-Quip, Inc. (NYSE:DRQ) Stock

Dril-Quip, Inc. (NYSE:DRQGet Free Report) VP James C. Webster sold 4,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.16, for a total value of $92,640.00. Following the completion of the sale, the vice president now owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dril-Quip Price Performance

DRQ stock opened at $23.55 on Thursday. The stock has a market capitalization of $810.59 million, a PE ratio of 2,355.00 and a beta of 0.84. The company’s 50-day moving average is $22.13 and its 200-day moving average is $23.08. Dril-Quip, Inc. has a 1 year low of $18.93 and a 1 year high of $30.93.

Dril-Quip (NYSE:DRQGet Free Report) last released its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $126.34 million for the quarter, compared to the consensus estimate of $118.58 million. Dril-Quip had a negative return on equity of 0.58% and a net margin of 0.14%. Dril-Quip’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. On average, analysts anticipate that Dril-Quip, Inc. will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dril-Quip

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new position in shares of Dril-Quip during the 1st quarter worth about $37,000. US Bancorp DE boosted its position in shares of Dril-Quip by 172.1% during the 1st quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 654 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Dril-Quip by 175.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,057 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,309 shares during the last quarter. Group One Trading L.P. raised its holdings in shares of Dril-Quip by 124.7% in the 1st quarter. Group One Trading L.P. now owns 1,428 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 7,213 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Dril-Quip by 65.2% in the 3rd quarter. FMR LLC now owns 1,918 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 757 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on DRQ. Barclays cut their price target on shares of Dril-Quip from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Thursday, February 29th. StockNews.com raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Evercore ISI cut their price target on shares of Dril-Quip from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th.

Check Out Our Latest Report on DRQ

Dril-Quip Company Profile

(Get Free Report)

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.

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