Dril-Quip (NYSE:DRQ) Cut to Sell at StockNews.com

StockNews.com downgraded the stock Dril-Quip (NYSE:DRQ – Free Report) from a hold rating to a sell rating in a research note published on Thursday morning.

Separately, Barclays decreased their price objective on Dril-Quip from $22.00 to $21.00 and set an underweight rating on the stock in a report on Tuesday, May 14th.

Read our latest research report on DRQ

Dril-Quip Stock Up 1.8%

Shares of DRQ stock opened at $16.46 on Thursday. The company has a market cap of $566.55 million, a price-to-earnings ratio of -25.72 and a beta of 0.87. Dril-Quip has a 52 week low of $14.07 and a 52 week high of $30.93. The stock has a 50-day moving average price of $16.62 and a 200-day moving average price of $19.22.

Dril-Quip (NYSE:DRQ – Get Your Free Report ) last released 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 company had revenue of $120.34 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 34.3% compared to the same quarter last year. In the same quarter last year, the company earned ($0.03) EPS. On average, equities analysts anticipate that Dril-Quip will post 0.45 EPS for the current fiscal year.

Insider buying and selling

In other 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 transaction of $88,020.00. Following the completion of 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 legal filing with the SEC, which is available via this hyperlink. 1.70% of the stock is owned by insiders.

Hedge funds influence Dril-Quip

Several hedge funds have recently bought and sold shares of DRQ. Brandes Investment Partners LP boosted its holdings in Dril-Quip by 29.6% in the second quarter. Brandes Investment Partners LP now owns 3,732,716 shares of the oil and gas company’s stock valued at $69,408,000 after purchasing an additional 852,035 shares in the last quarter. Ranger Investment Management LP grew its stake in Dril-Quip by 58.5% in the fourth quarter. Ranger Investment Management LP now owns 1,105,735 shares of the oil and gas company’s stock valued at $25,730,000 after acquiring an additional 408,076 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Dril-Quip by 7.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,116,859 shares of the oil and gas company’s stock valued at $49,259,000 after acquiring an additional 144,916 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Dril-Quip by 9.8% in the 2nd 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 acquired an additional 121,681 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in Dril-Quip by 21.9% in the first quarter. Gabelli Funds LLC now owns 543,880 shares of the oil and gas company’s stock worth $12,254,000 after purchasing an additional 97,800 shares in the last quarter.

About Dril-Quip

(Get a free report)

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells and services drilling and production equipment for offshore and onshore applications worldwide. The company’s main products include subsea and surface wellheads, specialty connectors and associated tubing, subsea production shafts and systems, mud line suspension systems, production riser systems, dry shaft systems, subsea manifolds, line and expandable casing systems, multi-frac well connections, conventional wellheads, thermal wellheads, completion packers and safety and Kelly valves; and rig equipment includes drilling rigs, wellhead connectors, diverters and cement headers.

Read more

Get news and reviews for Dril-Quip Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Dril-Quip and related companies with MarketBeat.com’s FREE daily email newsletter.