Dril-Quip (NYSE:DRQ) Trading 4.7% Higher

Shares of Dril-Quip, Inc. (NYSE:DRQ) shot up 4.7% on Monday . The company traded as high as $14.94 and last traded at $14.93. 173,711 shares traded hands during trading, a decline of 32% from the average session volume of 255,647 shares. The stock had previously closed at $14.26.

Analyst Ratings Changes

DRQ has been the subject of several research reports. StockNews.com downgraded Dril-Quip from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Barclays dropped their price objective 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 Up 4.3 %

The business’s 50 day simple moving average is $17.25 and its 200-day simple moving average is $19.71. The stock has a market capitalization of $511.83 million, a price-to-earnings ratio of -22.28 and a beta of 0.87.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 2.48% and a negative net margin of 5.69%. Dril-Quip’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, analysts expect that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Institutional Trading of Dril-Quip

A number of hedge funds have recently made changes to their positions in the company. Sargent Investment Group LLC increased its stake in shares of Dril-Quip by 14.3% in the second quarter. Sargent Investment Group LLC now owns 85,648 shares of the oil and gas company’s stock valued at $1,593,000 after buying an additional 10,704 shares during the period. William Blair Investment Management LLC raised its stake in shares of Dril-Quip by 9.8% during the second quarter. William Blair Investment Management LLC now owns 1,360,291 shares of the oil and gas company’s stock valued at $25,301,000 after acquiring an additional 121,681 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Dril-Quip by 11.6% during the second quarter. American Century Companies Inc. now owns 66,885 shares of the oil and gas company’s stock worth $1,244,000 after purchasing an additional 6,932 shares during the period. Victory Capital Management Inc. grew its stake in shares of Dril-Quip by 9.5% in the second quarter. Victory Capital Management Inc. now owns 301,690 shares of the oil and gas company’s stock worth $5,611,000 after purchasing an additional 26,164 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of Dril-Quip in the second quarter worth $317,000.

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.