Dril-Quip (NYSE:DRQ) Shares Gap Down to $21.61

Dril-Quip, Inc. (NYSE:DRQGet Rating) shares gapped down before the market opened on Friday . The stock had previously closed at $21.61, but opened at $20.45. Dril-Quip shares last traded at $19.84, with a volume of 1,064 shares traded.

Dril-Quip Trading Down 7.7 %

The stock has a fifty day moving average of $23.36 and a 200-day moving average of $28.36. The firm has a market capitalization of $685.34 million, a price-to-earnings ratio of -7.96 and a beta of 1.19.

Dril-Quip (NYSE:DRQGet Rating) last released its quarterly earnings results on Thursday, July 28th. The oil and gas company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $93.98 million during the quarter, compared to analyst estimates of $87.88 million. Dril-Quip had a negative return on equity of 4.66% and a negative net margin of 26.35%. Dril-Quip’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.53) EPS. As a group, equities research analysts forecast that Dril-Quip, Inc. will post -0.49 earnings per share for the current fiscal year.

Insider Transactions at Dril-Quip

In related news, VP James C. Webster sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $25.14, for a total value of $251,400.00. Following the completion of the sale, the vice president now owns 48,108 shares in the company, valued at approximately $1,209,435.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jeffrey J. Bird sold 2,500 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $25.00, for a total value of $62,500.00. Following the completion of the sale, the chief executive officer now directly owns 98,998 shares of the company’s stock, valued at approximately $2,474,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James C. Webster sold 10,000 shares of Dril-Quip stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $25.14, for a total value of $251,400.00. Following the transaction, the vice president now directly owns 48,108 shares in the company, valued at approximately $1,209,435.12. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

Institutional Trading of Dril-Quip

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in Dril-Quip by 10.4% in the 4th quarter. BNP Paribas Arbitrage SA now owns 45,154 shares of the oil and gas company’s stock valued at $889,000 after buying an additional 4,267 shares during the period. Bank of Montreal Can raised its holdings in shares of Dril-Quip by 7.3% during the fourth quarter. Bank of Montreal Can now owns 89,558 shares of the oil and gas company’s stock worth $1,769,000 after acquiring an additional 6,112 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Dril-Quip by 137.6% during the fourth quarter. Gabelli Funds LLC now owns 129,000 shares of the oil and gas company’s stock worth $2,539,000 after acquiring an additional 74,700 shares in the last quarter. Sourcerock Group LLC acquired a new stake in Dril-Quip during the fourth quarter valued at $838,000. Finally, SIR Capital Management L.P. purchased a new position in Dril-Quip in the fourth quarter valued at about $1,328,000. 99.64% of the stock is owned by hedge funds and other institutional investors.

Dril-Quip Company Profile

(Get Rating)

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. The company's principal products include subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools.

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