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

Stock analysts at StockNews.com started coverage on shares of Dril-Quip (NYSE:DRQ) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the oil and gas company’s stock.

Dril-Quip Stock Performance

The firm has a 50 day moving average price of $16.03 and a 200 day moving average price of $18.82. The firm has a market cap of $530.41 million, a PE ratio of -24.08 and a beta of 0.84. Dril-Quip has a twelve month low of $14.07 and a twelve month high of $30.93.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $118.85 million. Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.49%. The company’s revenue was up 34.3% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. As a group, sell-side analysts expect that Dril-Quip will post 0.45 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Dril-Quip

Large investors have recently modified their holdings of the stock. CWM LLC grew its position in Dril-Quip by 564.0% during the 2nd quarter. CWM LLC now owns 2,696 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 2,290 shares during the last quarter. Kings Path Partners LLC bought a new stake in Dril-Quip during the 2nd quarter worth approximately $52,000. Central Pacific Bank Trust Division bought a new stake in Dril-Quip during the 1st quarter worth approximately $104,000. Price T Rowe Associates Inc. MD bought a new stake in Dril-Quip during the 1st quarter worth approximately $219,000. Finally, PNC Financial Services Group Inc. grew its position in Dril-Quip by 37.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock worth $221,000 after acquiring an additional 2,569 shares during the last quarter.

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.