StockNews.com Downgrades Dril-Quip (NYSE:DRQ) to Sell

StockNews.com downgraded shares of Dril-Quip (NYSE:DRQ) from a hold rating to a sell rating in a research report report published on Thursday.

Separately, Barclays reduced their price target on shares of Dril-Quip from $22.00 to $21.00 and set an underweight rating for the company in a research note on Tuesday, May 14th.

Dril-Quip Stock Down 0.9 %

Dril-Quip stock opened at $16.31 on Thursday. The firm has a 50-day moving average price of $16.58 and a two-hundred day moving average price of $19.18. The firm has a market capitalization of $561.88 million, a price-to-earnings ratio of -25.48 and a beta of 0.87. 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 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 firm had revenue of $120.34 million for the quarter, compared to analyst estimates of $118.85 million. Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.49%. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) earnings per share. Research analysts expect that Dril-Quip will post 0.45 earnings per share for the current year.

Insider Transactions at Dril-Quip

In other news, VP James C. Webster sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 directly owns 56,735 shares of the company’s stock, valued at approximately $832,302.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Dril-Quip

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its stake in 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 purchasing an additional 79,885 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Dril-Quip during the first quarter valued at approximately $905,000. Gabelli Funds LLC lifted its stake in 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 valued at $12,254,000 after purchasing an additional 97,800 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Dril-Quip by 32.4% during the first quarter. Russell Investments Group Ltd. now owns 320,895 shares of the oil and gas company’s stock valued at $7,230,000 after acquiring an additional 78,437 shares during the period. Finally, Vanguard Group Inc. raised its holdings 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 acquiring an additional 45,964 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.