Dril-Quip (NYSE:DRQ) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Dril-Quip (NYSE:DRQ) in a research note issued to investors on Thursday morning. The firm issued a sell rating on the oil and gas company’s stock.

Dril-Quip Price Performance

Dril-Quip stock opened at $15.41 on Thursday. The stock has a market cap of $530.41 million, a price-to-earnings ratio of -24.08 and a beta of 0.84. Dril-Quip has a 1 year low of $14.07 and a 1 year high of $30.93. The firm has a 50-day moving average of $16.03 and a two-hundred day moving average of $18.82.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.07). The firm 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 2.49% and a negative net margin of 5.69%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. Research analysts expect that Dril-Quip will post 0.45 earnings per share for the current year.

Insider Buying and Selling

In other Dril-Quip news, VP James C. Webster sold 6,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the completion of the transaction, the vice president now directly owns 56,735 shares in the company, valued at $832,302.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dril-Quip

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its stake in Dril-Quip by 564.0% during the second quarter. CWM LLC now owns 2,696 shares of the oil and gas company’s stock worth $50,000 after buying an additional 2,290 shares during the period. Kings Path Partners LLC purchased a new position in Dril-Quip during the second quarter worth about $52,000. Central Pacific Bank Trust Division purchased a new position in Dril-Quip during the first quarter worth about $104,000. Price T Rowe Associates Inc. MD purchased a new position in Dril-Quip during the first quarter worth about $219,000. Finally, PNC Financial Services Group Inc. boosted its stake in Dril-Quip by 37.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock worth $221,000 after buying an additional 2,569 shares during the period.

About Dril-Quip

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.