Dril-Quip (NYSE:DRQ) Reaches New 1-Year Low at $18.84

Dril-Quip, Inc. (NYSE:DRQ)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $18.84 and last traded at $18.95, with a volume of 142662 shares traded. The stock had previously closed at $19.46.

Analyst Ratings Changes

A number of brokerages have recently commented on DRQ. Barclays dropped their price target on 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 Dril-Quip from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Evercore ISI dropped their price target on Dril-Quip from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th.

Dril-Quip Trading Up 3.1 %

The firm has a fifty day simple moving average of $22.27 and a two-hundred day simple moving average of $22.36. The firm has a market cap of $685.30 million, a PE ratio of 1,991.00 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last released its earnings results on Monday, February 26th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The firm had revenue of $126.34 million during the quarter, compared to analysts’ expectations of $118.58 million. Dril-Quip had a net margin of 0.14% and a negative return on equity of 0.58%. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. Equities analysts expect that Dril-Quip, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Activity at Dril-Quip

In related news, VP James C. Webster sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $92,640.00. Following the completion of the transaction, the vice president now owns 62,735 shares of the company’s stock, valued at approximately $1,452,942.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Dril-Quip news, VP James C. Webster sold 4,000 shares of Dril-Quip stock in a transaction on Monday, April 1st. The stock was 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 approximately $1,452,942.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey J. Bird sold 7,500 shares of Dril-Quip stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.14, for a total value of $173,550.00. Following the completion of the sale, the chief executive officer now directly owns 155,327 shares of the company’s stock, valued at approximately $3,594,266.78. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Dril-Quip

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Dril-Quip by 59.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,733 shares of the oil and gas company’s stock worth $190,000 after buying an additional 2,514 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Dril-Quip by 252.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,942 shares of the oil and gas company’s stock worth $196,000 after buying an additional 4,973 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in Dril-Quip during the third quarter valued at $225,000. Profund Advisors LLC purchased a new position in Dril-Quip during the third quarter valued at $259,000. Finally, CoreCommodity Management LLC purchased a new position in Dril-Quip during the fourth quarter valued at $229,000.

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.