Dril-Quip, Inc. (NYSE:DRQ) Short Interest Update

Dril-Quip, Inc. (NYSE:DRQ) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,100,000 shares, a decrease of 5.2% from the June 15th total of 1,160,000 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average trading volume of 267,500 shares, the short-interest ratio is presently 4.1 days.

Dril-Quip Stock Performance

Shares of NYSE:DRQ opened at $17.75 on Thursday. The stock has a fifty day moving average of $18.17 and a 200-day moving average of $20.34. The company has a market capitalization of $610.96 million, a PE ratio of -27.73 and a beta of 0.87. Dril-Quip has a one year low of $15.56 and a one year high of $30.93.

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

Wall Street Analysts Forecast Growth

Separately, Barclays cut their price objective on Dril-Quip from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Tuesday, May 14th.

Institutional Trading of Dril-Quip

Hedge funds have recently modified their holdings of the business. CWM LLC lifted its holdings in shares of Dril-Quip by 564.0% in the second quarter. CWM LLC now owns 2,696 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 2,290 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Dril-Quip in the first quarter valued at $104,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Dril-Quip in the first quarter valued at $219,000. PNC Financial Services Group Inc. raised its holdings in shares of Dril-Quip by 37.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock worth $221,000 after acquiring an additional 2,569 shares in the last quarter. Finally, CoreCommodity Management LLC purchased a new stake in shares of Dril-Quip during the fourth quarter worth $229,000.

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.