Dril-Quip (NYSE:DRQ) Hits New 52-Week Low at $15.56

Dril-Quip, Inc. (NYSE:DRQGet Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $15.56 and last traded at $15.85, with a volume of 41801 shares changing hands. The stock had previously closed at $16.01.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DRQ shares. Barclays lowered their target price 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. StockNews.com upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Friday, March 15th.

Read Our Latest Stock Report on Dril-Quip

Dril-Quip Stock Performance

The business has a fifty day moving average of $18.36 and a 200-day moving average of $20.59.

Dril-Quip (NYSE:DRQGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter. The firm had revenue of $110.30 million during the quarter. Dril-Quip had a negative return on equity of 2.98% and a negative net margin of 4.89%. As a group, analysts expect that Dril-Quip, Inc. will post 0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DRQ. Vanguard Group Inc. increased its holdings in shares of Dril-Quip by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,878,263 shares of the oil and gas company’s stock worth $87,377,000 after buying an additional 10,787 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Dril-Quip by 16.0% in the 4th quarter. Brandes Investment Partners LP now owns 2,559,568 shares of the oil and gas company’s stock worth $59,561,000 after acquiring an additional 353,053 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Dril-Quip by 4.4% during the first quarter. Gamco Investors INC. ET AL now owns 2,209,616 shares of the oil and gas company’s stock valued at $49,783,000 after buying an additional 92,757 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Dril-Quip by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,150,385 shares of the oil and gas company’s stock worth $50,040,000 after acquiring an additional 43,434 shares during the last quarter. Finally, Ranger Investment Management L.P. grew its holdings in shares of Dril-Quip by 58.5% in the fourth 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 purchasing an additional 408,076 shares during the last quarter.

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.

Further Reading

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