Dril-Quip (NYSE:DRQ) Trading Up 4.7%

Dril-Quip, Inc. (NYSE:DRQ) shares rose 4.7% on Monday . The company traded as high as $14.94 and last traded at $14.93. Approximately 173,711 shares were traded during trading, a decline of 32% from the average daily volume of 255,647 shares. The stock had previously closed at $14.26.

Analyst Ratings Changes

A number of brokerages have issued reports on DRQ. Barclays cut their price target on Dril-Quip from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday, May 14th. StockNews.com downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd.

Dril-Quip Stock Performance

The firm has a market capitalization of $511.83 million, a PE ratio of -22.28 and a beta of 0.87. The company has a fifty day moving average price of $17.25 and a 200-day moving average price of $19.71.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data 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 company had revenue of $120.34 million for the quarter, compared to the consensus estimate of $118.85 million. Dril-Quip had a negative return on equity of 2.48% and a negative net margin of 5.69%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. On average, equities analysts predict that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Dril-Quip

Large investors have recently made changes to their positions in the company. Ranger Investment Management L.P. lifted its stake in shares of Dril-Quip by 58.5% during the 4th quarter. Ranger Investment Management L.P. now owns 1,105,735 shares of the oil and gas company’s stock worth $25,730,000 after acquiring an additional 408,076 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in Dril-Quip by 16.0% during the 4th quarter. Brandes Investment Partners LP now owns 2,559,568 shares of the oil and gas company’s stock valued at $59,561,000 after buying an additional 353,053 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Dril-Quip by 7.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,116,859 shares of the oil and gas company’s stock valued at $49,259,000 after buying an additional 144,916 shares during the period. William Blair Investment Management LLC increased its position in shares of Dril-Quip by 9.8% during the second quarter. William Blair Investment Management LLC now owns 1,360,291 shares of the oil and gas company’s stock worth $25,301,000 after acquiring an additional 121,681 shares during the period. Finally, Gabelli Funds LLC increased its holdings in Dril-Quip by 21.9% during the 1st quarter. Gabelli Funds LLC now owns 543,880 shares of the oil and gas company’s stock worth $12,254,000 after purchasing an additional 97,800 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.