Insider Selling: Dril-Quip, Inc. (NYSE:DRQ) VP Sells $88,020.00 in Stock

Dril-Quip, Inc. (NYSE:DRQ) VP James C. Webster sold 6,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the sale, the vice president now directly owns 56,735 shares in the company, valued at $832,302.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Dril-Quip Stock Performance

Shares of DRQ opened at $15.22 on Friday. The stock has a market capitalization of $523.87 million, a PE ratio of -23.78 and a beta of 0.87. The company’s fifty day moving average is $17.01 and its 200 day moving average is $19.49. Dril-Quip, Inc. has a fifty-two week low of $14.07 and a fifty-two week high of $30.93.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). Dril-Quip had a negative return on equity of 2.48% and a negative net margin of 5.69%. The company had revenue of $120.34 million during the quarter, compared to the consensus estimate of $118.85 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. As a group, research analysts forecast that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Institutional Trading of Dril-Quip

Several hedge funds and other institutional investors have recently bought and sold shares of DRQ. Ranger Investment Management L.P. lifted its position in shares of Dril-Quip by 58.5% during the fourth quarter. Ranger Investment Management L.P. now owns 1,105,735 shares of the oil and gas company’s stock valued at $25,730,000 after buying an additional 408,076 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Dril-Quip by 16.0% during the 4th quarter. Brandes Investment Partners LP now owns 2,559,568 shares of the oil and gas company’s stock valued at $59,561,000 after purchasing an additional 353,053 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Dril-Quip by 7.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,116,859 shares of the oil and gas company’s stock worth $49,259,000 after purchasing an additional 144,916 shares in the last quarter. William Blair Investment Management LLC grew its stake in Dril-Quip by 9.8% during the 2nd quarter. William Blair Investment Management LLC now owns 1,360,291 shares of the oil and gas company’s stock worth $25,301,000 after buying an additional 121,681 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in Dril-Quip by 21.9% during the 1st quarter. Gabelli Funds LLC now owns 543,880 shares of the oil and gas company’s stock valued at $12,254,000 after buying an additional 97,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

DRQ has been the subject of several research analyst reports. Barclays cut their price objective on Dril-Quip from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday, May 14th. StockNews.com upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Monday, August 12th.

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.