Dril-Quip (NYSE:DRQ) Stock Price Down 2.6%

Dril-Quip, Inc. (NYSE:DRQ) shares fell 2.6% during trading on Tuesday . The stock traded as low as $17.31 and last traded at $17.31. 5,954 shares traded hands during trading, a decline of 98% from the average session volume of 246,530 shares. The stock had previously closed at $17.77.

Analysts Set New Price Targets

Several research firms have recently commented on DRQ. Barclays lowered their price target 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. StockNews.com upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Friday, March 15th.

Dril-Quip Trading Up 0.6 %

The company has a market capitalization of $554.51 million, a PE ratio of -25.17 and a beta of 0.87. The stock has a fifty day simple moving average of $18.32 and a 200-day simple moving average of $20.56.

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

Institutional Trading of Dril-Quip

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its position in Dril-Quip by 564.0% in the 2nd quarter. CWM LLC now owns 2,696 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 2,290 shares during the period. Central Pacific Bank Trust Division acquired a new position in Dril-Quip in the 1st quarter valued at about $104,000. PNC Financial Services Group Inc. increased its position in Dril-Quip by 37.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock valued at $221,000 after acquiring an additional 2,569 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Dril-Quip in the 1st quarter valued at about $219,000. Finally, CoreCommodity Management LLC acquired a new position in Dril-Quip in the 4th quarter valued at about $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.