Dril-Quip (NYSE:DRQ) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Dril-Quip (NYSE:DRQ – Get Rating) in a report issued on Thursday. The firm issued a hold rating on the oil and gas company’s stock.

DRQ has been the topic of several other reports. Barclays lifted their target price on Dril-Quip from $23.00 to $27.00 and gave the stock an underweight rating in a report on Thursday, March 2nd. TheStreet upgraded Dril-Quip from a d+ rating to a c- rating in a report on Tuesday, January 31st.

Dril-Quip Stock Down 2.0 %

NYSE:DRQ opened at $27.02 on Thursday. The stock’s fifty day simple moving average is $30.21 and its 200-day simple moving average is $25.79. The firm has a market capitalization of $923.27 million, a P/E ratio of 2,702.00 and a beta of 1.09. Dril-Quip has a 12-month low of $19.10 and a 12-month high of $38.99.

Dril-Quip (NYSE:DRQ – Get Rating) last posted its earnings results on Monday, February 27th. The oil and gas company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.11. The firm had revenue of $96.81 million for the quarter, compared to analyst estimates of $88.50 million. Dril-Quip had a negative return on equity of 1.06% and a net margin of 0.12%. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.46) earnings per share. As a group, equities research analysts expect that Dril-Quip will post -0.07 earnings per share for the current year.

Insider Buying and Selling at Dril-Quip

In other Dril-Quip news, CFO Kyle Mcclure sold 2,500 shares of Dril-Quip stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $26.23, for a total value of $65,575.00. Following the sale, the chief financial officer now owns 62,845 shares of the company’s stock, valued at approximately $1,648,424.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP James C. Webster sold 2,000 shares of Dril-Quip stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $26.22, for a total value of $52,440.00. Following the sale, the vice president now owns 58,795 shares of the company’s stock, valued at $1,541,604.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Mcclure sold 2,500 shares of Dril-Quip stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $26.23, for a total value of $65,575.00. Following the completion of the sale, the chief financial officer now directly owns 62,845 shares in the company, valued at approximately $1,648,424.35. The disclosure for this sale can be found here. Insiders have sold 18,436 shares of company stock valued at $601,374 in the last 90 days. 2.02% of the stock is currently owned by company insiders.

Institutional Trading of Dril-Quip

A number of hedge funds and other institutional investors have recently modified their holdings of DRQ. CWA Asset Management Group LLC acquired a new stake in shares of Dril-Quip in the fourth quarter valued at about $11,181,000. Gamco Investors INC. ET AL increased its position in shares of Dril-Quip by 29.5% in the first quarter. Gamco Investors INC. ET AL now owns 1,517,794 shares of the oil and gas company’s stock valued at $56,690,000 after acquiring an additional 345,344 shares during the last quarter. State Street Corp increased its position in shares of Dril-Quip by 16.9% in the first quarter. State Street Corp now owns 1,627,383 shares of the oil and gas company’s stock valued at $60,783,000 after acquiring an additional 235,177 shares during the last quarter. Heartland Advisors Inc. increased its position in shares of Dril-Quip by 43.4% in the fourth quarter. Heartland Advisors Inc. now owns 478,446 shares of the oil and gas company’s stock valued at $12,999,000 after acquiring an additional 144,844 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Dril-Quip by 114.4% in the first quarter. Bank of America Corp DE now owns 270,388 shares of the oil and gas company’s stock valued at $10,098,000 after acquiring an additional 144,274 shares during the last quarter.

Dril-Quip Company Profile

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Dril-Quip, Inc designs, manufactures, sells and services engineered offshore drilling and production equipment. It operates through the following geographical segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific. Its products include specialty casing connectors, mudline suspension equipment, downhole tools, capital drilling equipment, control systems, and dry tree systems.