Dril-Quip (NYSE:DRQ) Sets New 12-Month Low at $18.47

Shares of Dril-Quip, Inc. (NYSE:DRQ) hit a new 52-week low on Tuesday . The company traded as low as $18.47 and last traded at $18.63, with a volume of 101355 shares traded. The stock had previously closed at $19.52.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Evercore ISI dropped their price target on Dril-Quip from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Barclays lowered their price objective on Dril-Quip from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Thursday, February 29th.

Dril-Quip Price Performance

The firm has a fifty day simple moving average of $22.23 and a two-hundred day simple moving average of $22.27. The firm has a market capitalization of $625.76 million, a P/E ratio of 1,818.00 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). Dril-Quip had a net margin of 0.14% and a negative return on equity of 0.58%. The firm had revenue of $126.34 million for the quarter, compared to the consensus estimate of $118.58 million. During the same period last year, the company posted $0.06 earnings per share. Dril-Quip’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, research analysts anticipate that Dril-Quip, Inc. will post 0.45 EPS for the current year.

Insiders Place Their Bets

In other Dril-Quip news, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.14, for a total transaction of $173,550.00. Following the sale, the chief executive officer now owns 155,327 shares in the company, valued at $3,594,266.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP James C. Webster sold 4,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.16, for a total value of $92,640.00. Following the sale, the vice president now owns 62,735 shares in the company, valued at $1,452,942.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.14, for a total value of $173,550.00. Following the completion of the sale, the chief executive officer now owns 155,327 shares in the company, valued at approximately $3,594,266.78. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Dril-Quip

A number of large investors have recently added to or reduced their stakes in DRQ. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Dril-Quip by 59.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,733 shares of the oil and gas company’s stock valued at $190,000 after buying an additional 2,514 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Dril-Quip by 252.6% in the third quarter. PNC Financial Services Group Inc. now owns 6,942 shares of the oil and gas company’s stock worth $196,000 after purchasing an additional 4,973 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Dril-Quip in the third quarter worth about $225,000. Profund Advisors LLC bought a new stake in shares of Dril-Quip in the third quarter worth about $259,000. Finally, CoreCommodity Management LLC bought a new stake in shares of Dril-Quip in the fourth quarter worth about $229,000.

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.