Insider Selling: Dril-Quip, Inc. (NYSE:DRQ) VP Sells 4,000 Shares of Stock

Dril-Quip, Inc. (NYSE:DRQGet Free Report) VP James C. Webster sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $92,640.00. Following the sale, the vice president now directly owns 62,735 shares in the company, valued at $1,452,942.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Dril-Quip Stock Performance

Shares of NYSE:DRQ traded down $0.42 during trading hours on Tuesday, reaching $22.74. The stock had a trading volume of 60,283 shares, compared to its average volume of 227,611. Dril-Quip, Inc. has a 1 year low of $18.93 and a 1 year high of $30.93. The firm’s 50 day moving average is $22.06 and its 200-day moving average is $23.11. The stock has a market capitalization of $782.71 million, a price-to-earnings ratio of 2,274.00 and a beta of 0.84.

Dril-Quip (NYSE:DRQGet Free Report) last issued its earnings results on Monday, February 26th. The oil and gas company reported $0.04 earnings per share (EPS) 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 company had revenue of $126.34 million during the quarter, compared to analyst estimates of $118.58 million. During the same quarter in the previous year, the company posted $0.06 EPS. The company’s quarterly revenue was up 30.5% on a year-over-year basis. Analysts forecast that Dril-Quip, Inc. will post 0.45 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DRQ. Advisor Group Holdings Inc. boosted its stake in Dril-Quip by 2,352.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 11,724 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 11,246 shares during the period. ProShare Advisors LLC acquired a new stake in Dril-Quip during the 1st quarter worth $292,000. JPMorgan Chase & Co. lifted its stake in shares of Dril-Quip by 3.4% in the 1st quarter. JPMorgan Chase & Co. now owns 28,602 shares of the oil and gas company’s stock worth $1,068,000 after acquiring an additional 937 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Dril-Quip by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 415,762 shares of the oil and gas company’s stock worth $15,529,000 after acquiring an additional 2,172 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Dril-Quip by 44.7% in the 1st quarter. American Century Companies Inc. now owns 28,620 shares of the oil and gas company’s stock worth $1,069,000 after acquiring an additional 8,842 shares during the period.

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on DRQ

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.

Further Reading

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