Dril-Quip, Inc. (NYSE:DRQ) VP James C. Webster Sells 4,000 Shares

Dril-Quip, Inc. (NYSE:DRQGet Free Report) VP James C. Webster sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.16, for a total transaction of $92,640.00. Following the transaction, the vice president now directly owns 62,735 shares of the company’s stock, valued at approximately $1,452,942.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Dril-Quip Price Performance

Shares of Dril-Quip stock opened at $23.34 on Wednesday. Dril-Quip, Inc. has a 1 year low of $18.93 and a 1 year high of $30.93. The firm has a market cap of $803.36 million, a PE ratio of 2,334.00 and a beta of 0.84. The company has a 50 day simple moving average of $22.10 and a two-hundred day simple moving average of $23.07.

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

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on Dril-Quip

Institutional Investors Weigh In On Dril-Quip

Hedge funds have recently added to or reduced their stakes in the company. Brandes Investment Partners LP increased its position in shares of Dril-Quip by 36.8% during the 3rd quarter. Brandes Investment Partners LP now owns 2,206,515 shares of the oil and gas company’s stock valued at $62,158,000 after purchasing an additional 593,982 shares during the last quarter. Ranger Investment Management L.P. grew its position in Dril-Quip by 365.7% during the third quarter. Ranger Investment Management L.P. now owns 697,659 shares of the oil and gas company’s stock valued at $19,653,000 after acquiring an additional 547,859 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Dril-Quip by 29.5% during the first quarter. Gamco Investors INC. ET AL now owns 1,517,794 shares of the oil and gas company’s stock valued at $56,690,000 after acquiring an additional 345,344 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Dril-Quip by 27.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,363,507 shares of the oil and gas company’s stock worth $38,410,000 after acquiring an additional 292,521 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in Dril-Quip in the first quarter worth $8,170,000.

Dril-Quip Company Profile

(Get Free Report)

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.

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