Dril-Quip (NYSE:DRQ) Now Covered by Analysts at StockNews.com

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

Dril-Quip Price Performance

Dril-Quip has a 1 year low of $14.07 and a 1 year high of $30.93. The business’s fifty day moving average is $16.20 and its 200 day moving average is $18.91. The stock has a market cap of $530.41 million, a PE ratio of -24.08 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.49%. The firm had revenue of $120.34 million during the quarter, compared to analyst estimates of $118.85 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. On average, equities analysts predict that Dril-Quip will post 0.45 earnings per share for the current year.

Insider Transactions at Dril-Quip

In related news, VP James C. Webster sold 6,000 shares of Dril-Quip stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $14.67, for a total value of $88,020.00. Following the completion of the transaction, the vice president now owns 56,735 shares in the company, valued at $832,302.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Dril-Quip

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Dril-Quip by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 454,140 shares of the oil and gas company’s stock valued at $10,568,000 after acquiring an additional 13,468 shares in the last quarter. Jump Financial LLC acquired a new stake in Dril-Quip in the 4th quarter valued at about $370,000. Dimensional Fund Advisors LP boosted its stake in shares of Dril-Quip by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,150,385 shares of the oil and gas company’s stock valued at $50,040,000 after buying an additional 43,434 shares during the period. SageView Advisory Group LLC acquired a new position in shares of Dril-Quip during the fourth quarter worth about $317,000. Finally, Stifel Financial Corp increased its stake in shares of Dril-Quip by 13.5% during the fourth quarter. Stifel Financial Corp now owns 672,614 shares of the oil and gas company’s stock worth $15,652,000 after buying an additional 79,885 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.