Dril-Quip, Inc. (NYSE:DRQ) Short Interest Up 7.4% in June

Dril-Quip, Inc. (NYSE:DRQ) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,160,000 shares, a growth of 7.4% from the May 31st total of 1,080,000 shares. Based on an average daily volume of 272,400 shares, the days-to-cover ratio is currently 4.3 days. Approximately 3.4% of the company’s shares are sold short.

Dril-Quip Stock Performance

NYSE DRQ opened at $18.59 on Thursday. Dril-Quip has a 12 month low of $16.64 and a 12 month high of $30.93. The company’s 50-day moving average price is $18.49 and its 200-day moving average price is $20.76.

Dril-Quip (NYSE:DRQ) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.62) EPS for the quarter. Dril-Quip had a negative return on equity of 2.98% and a negative net margin of 4.89%. The company had revenue of $110.30 million during the quarter. As a group, equities research analysts expect that Dril-Quip will post 0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DRQ has been the subject of several recent analyst reports. Barclays dropped their target price on Dril-Quip from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Tuesday, May 14th. StockNews.com raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Friday, March 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Partnership Wealth Management LLC grew its position in shares of Dril-Quip by 6.8% during the 2nd quarter. Partnership Wealth Management LLC now owns 21,381 shares of the oil and gas company’s stock worth $398,000 after buying an additional 1,360 shares in the last quarter. Deutsche Bank AG lifted its stake in Dril-Quip by 9.8% in the third quarter. Deutsche Bank AG now owns 16,701 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 1,490 shares during the period. Quadrature Capital Ltd increased its position in Dril-Quip by 7.1% during the 4th quarter. Quadrature Capital Ltd now owns 24,443 shares of the oil and gas company’s stock valued at $569,000 after purchasing an additional 1,612 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Dril-Quip by 37.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 2,569 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Dril-Quip by 15.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 21,583 shares of the oil and gas company’s stock worth $502,000 after purchasing an additional 2,867 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.