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

Dril-Quip (NYSE:DRQ) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Separately, Barclays decreased 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 report on Tuesday, May 14th.

Dril-Quip Stock Performance

Shares of NYSE DRQ opened at $16.31 on Thursday. The stock has a 50 day moving average price of $16.58 and a 200 day moving average price of $19.19. The stock has a market capitalization of $561.39 million, a PE ratio of -25.48 and a beta of 0.87. Dril-Quip has a 52 week low of $14.07 and a 52 week high of $30.93.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data 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 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 2.48%. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. As a group, research analysts forecast that Dril-Quip will post 0.45 EPS for the current year.

Insider Activity

In other Dril-Quip news, VP James C. Webster sold 6,000 shares of Dril-Quip 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 document filed with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CWM LLC grew its position in shares of Dril-Quip by 564.0% in 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 bought a new position in Dril-Quip during the 2nd quarter worth $52,000. Central Pacific Bank Trust Division bought a new position in Dril-Quip during the 1st quarter worth $104,000. PNC Financial Services Group Inc. lifted its holdings in shares of 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 worth $221,000 after buying an additional 2,569 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Dril-Quip in the first quarter valued at about $219,000.

Dril-Quip Company Profile

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.