Dril-Quip (NYSE:DRQ) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Dril-Quip (NYSE:DRQ) from a sell rating to a hold rating in a research report released on Monday.

Separately, Barclays decreased their price objective on Dril-Quip from $22.00 to $21.00 and set an underweight rating on the stock in a research note on Tuesday, May 14th.

Dril-Quip Stock Down 0.7 %

NYSE:DRQ opened at $14.76 on Monday. The company has a market capitalization of $508.04 million, a PE ratio of -23.23 and a beta of 0.87. Dril-Quip has a 52-week low of $14.07 and a 52-week high of $30.93. The stock has a fifty day simple moving average of $17.19 and a 200-day simple moving average of $19.66.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings results 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). Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.48%. The business had revenue of $120.34 million during the quarter, compared to analyst estimates of $118.85 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 34.3% compared to the same quarter last year. As a group, equities analysts anticipate that Dril-Quip will post 0.45 earnings per share for the current year.

Institutional Trading of Dril-Quip

A number of institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new stake in Dril-Quip during the 4th quarter worth $398,000. Illinois Municipal Retirement Fund lifted its stake in shares of Dril-Quip by 15.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 21,583 shares of the oil and gas company’s stock worth $502,000 after purchasing an additional 2,867 shares in the last quarter. Lesa Sroufe & Co purchased a new stake in shares of Dril-Quip during the 4th quarter valued at about $2,047,000. Sargent Investment Group LLC raised its stake in shares of Dril-Quip by 60.2% during the fourth quarter. Sargent Investment Group LLC now owns 71,064 shares of the oil and gas company’s stock valued at $1,654,000 after purchasing an additional 26,704 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Dril-Quip by 2.7% in the 4th quarter. Van ECK Associates Corp now owns 565,070 shares of the oil and gas company’s stock worth $13,150,000 after buying an additional 15,099 shares in the last quarter.

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.