Dril-Quip (NYSE:DRQ) Stock Price Down 2.4%

Dril-Quip, Inc. (NYSE:DRQ - Get Free Report) shares were down 2.4% on Friday . The stock traded as low as $16.07 and last traded at $16.07. Approximately 9,448 shares changed hands during trading, a decline of 96% from the average daily volume of 256,256 shares. The stock had previously closed at $16.46.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered Dril-Quip from a "hold" rating to a "sell" rating in a research report on Thursday. 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 Stock Down 0.9 %

The firm has a market cap of $561.39 million, a price-to-earnings ratio of -25.48 and a beta of 0.87. The company has a 50-day moving average price of $16.58 and a 200 day moving average price of $19.19.

Dril-Quip (NYSE:DRQ - Get Free Report) last released its earnings results on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.07). The business had revenue of $120.34 million for the quarter, compared to analysts' expectations of $118.85 million. Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.48%. The company's revenue was up 34.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. Equities analysts forecast that Dril-Quip, Inc. will post 0.45 EPS for the current year.

Insiders Place Their Bets

In related news, VP James C. Webster sold 6,000 shares of the stock in a transaction on Monday, August 12th. The stock was 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 $832,302.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Dril-Quip

A number of large investors have recently bought and sold shares of the business. CWM LLC grew its holdings in Dril-Quip by 564.0% during the second quarter. CWM LLC now owns 2,696 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 2,290 shares during the last quarter. Kings Path Partners LLC acquired a new position in Dril-Quip in the 2nd quarter valued at $52,000. Central Pacific Bank Trust Division bought a new position in Dril-Quip in the 1st quarter worth $104,000. Price T Rowe Associates Inc. MD acquired a new position in Dril-Quip during the 1st quarter worth $219,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Dril-Quip by 37.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company's stock valued at $221,000 after acquiring 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.