Dril-Quip, Inc. (NYSE:DRQ) CEO Sells $173,550.00 in Stock

Dril-Quip, Inc. (NYSE:DRQGet Free Report) CEO Jeffrey J. Bird sold 7,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.14, for a total value of $173,550.00. Following the sale, the chief executive officer now owns 155,327 shares of the company’s stock, valued at approximately $3,594,266.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dril-Quip Stock Down 1.8 %

DRQ traded down $0.42 during midday trading on Tuesday, reaching $22.74. The company had a trading volume of 60,283 shares, compared to its average volume of 227,611. The business has a 50-day moving average of $22.06 and a two-hundred day moving average of $23.11. The company has a market cap of $782.71 million, a P/E ratio of 2,315.00 and a beta of 0.84. Dril-Quip, Inc. has a 1 year low of $18.93 and a 1 year high of $30.93.

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

Hedge Funds Weigh In On Dril-Quip

A number of hedge funds have recently made changes to their positions in DRQ. Geneos Wealth Management Inc. bought a new position in Dril-Quip during the first quarter valued at approximately $37,000. US Bancorp DE boosted its stake in Dril-Quip by 172.1% during the first quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 654 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Dril-Quip by 175.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,057 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,309 shares during the last quarter. Group One Trading L.P. boosted its stake in Dril-Quip by 124.7% during the first quarter. Group One Trading L.P. now owns 1,428 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 7,213 shares during the last quarter. Finally, FMR LLC boosted its stake in Dril-Quip by 65.2% during the third quarter. FMR LLC now owns 1,918 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 757 shares during the last quarter.

Analysts Set New Price Targets

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

Read Our Latest Research Report on Dril-Quip

About Dril-Quip

(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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