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

StockNews.com downgraded shares of Dril-Quip (NYSE:DRQ - Free Report) from a hold rating to a sell rating in a research report report published on Thursday.

Separately, Barclays reduced their price objective on shares of Dril-Quip from $22.00 to $21.00 and set an underweight rating for the company in a research note on Tuesday, May 14th.

Dril-Quip Trading Up 1.8 %

DRQ stock traded up $0.29 during midday trading on Thursday, reaching $16.46. 291,878 shares of the company's stock traded hands, compared to its average volume of 257,737. Dril-Quip has a 52-week low of $14.07 and a 52-week high of $30.93. The stock has a market cap of $566.55 million, a P/E ratio of -25.67 and a beta of 0.87. The stock's 50-day moving average is $16.65 and its 200 day moving average is $19.24.

Dril-Quip (NYSE:DRQ - Get Free Report) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $0.10 EPS 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 2.48%. The business had revenue of $120.34 million for the quarter, compared to analysts' expectations of $118.85 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The firm's quarterly revenue was up 34.3% on a year-over-year basis. As a group, research analysts expect that Dril-Quip will post 0.45 EPS for the current fiscal year.

Insider Activity at Dril-Quip

In related news, VP James C. Webster sold 6,000 shares of the firm'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 of the company's stock, valued at $832,302.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dril-Quip

Institutional investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of Dril-Quip by 564.0% in 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 purchased a new position in Dril-Quip in the 2nd quarter worth about $52,000. Central Pacific Bank Trust Division purchased a new position in Dril-Quip in the 1st quarter worth about $104,000. Price T Rowe Associates Inc. MD purchased a new position in Dril-Quip in the 1st quarter worth about $219,000. Finally, PNC Financial Services Group Inc. increased its stake in 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 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.