Dril-Quip, Inc. (NYSE:DRQ) has been assigned an average recommendation of “Hold” from the twelve research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $47.60.
A number of analysts have issued reports on DRQ shares. BidaskClub downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Piper Jaffray Companies set a $43.00 target price on Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Cowen and Company cut their target price on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research note on Monday, July 31st. Scotiabank set a $61.00 target price on Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, FBR & Co raised Dril-Quip from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $55.00 in a research note on Tuesday, October 10th.
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In related news, Director A P. Shukis sold 613 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $42.80, for a total transaction of $26,236.40. Following the completion of the sale, the director now directly owns 12,282 shares of the company’s stock, valued at approximately $525,669.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey J. Bird sold 1,931 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $80,117.19. Following the sale, the chief financial officer now directly owns 24,719 shares of the company’s stock, valued at $1,025,591.31. The disclosure for this sale can be found here. Insiders have sold a total of 47,662 shares of company stock valued at $2,013,999 over the last three months. Corporate insiders own 0.87% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Dril-Quip by 8,615.2% in the 1st quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after acquiring an additional 3,540,338 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Dril-Quip by 41.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,147,783 shares of the oil and gas company’s stock valued at $138,975,000 after acquiring an additional 927,533 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Dril-Quip by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock valued at $153,221,000 after acquiring an additional 684,559 shares in the last quarter. Northern Trust Corp grew its position in Dril-Quip by 119.7% in the 2nd quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock valued at $50,851,000 after acquiring an additional 567,821 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Dril-Quip by 269.0% in the 2nd quarter. Janus Henderson Group PLC now owns 637,160 shares of the oil and gas company’s stock valued at $31,093,000 after acquiring an additional 464,501 shares in the last quarter.
Shares of Dril-Quip (NYSE:DRQ) traded up $0.30 on Monday, hitting $44.80. The company’s stock had a trading volume of 295,759 shares, compared to its average volume of 569,495. Dril-Quip has a twelve month low of $35.85 and a twelve month high of $69.40. The firm has a market cap of $1,700.00, a P/E ratio of 106.55 and a beta of 0.68.
Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The business had revenue of $100.35 million during the quarter, compared to the consensus estimate of $106.74 million. During the same period last year, the company earned $0.63 EPS. The company’s revenue for the quarter was down 18.8% on a year-over-year basis. equities analysts predict that Dril-Quip will post 0.18 earnings per share for the current fiscal year.
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
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