Cowen set a $40.00 price target on Dril-Quip (NYSE:DRQ) in a research report released on Friday. The firm currently has a hold rating on the oil and gas company’s stock.
Several other research firms have also recently weighed in on DRQ. TheStreet upgraded shares of Dril-Quip from a d+ rating to a c- rating in a research report on Friday, January 26th. Zacks Investment Research cut shares of Dril-Quip from a hold rating to a sell rating in a research report on Wednesday, January 3rd. ValuEngine cut shares of Dril-Quip from a hold rating to a sell rating in a research report on Sunday, December 31st. Barclays set a $49.00 price objective on shares of Dril-Quip and gave the stock an equal weight rating in a research report on Wednesday, February 28th. Finally, Piper Jaffray set a $40.00 price objective on shares of Dril-Quip and gave the stock a hold rating in a research report on Thursday, March 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $48.75.
DRQ opened at $45.75 on Friday. Dril-Quip has a twelve month low of $35.85 and a twelve month high of $56.55. The firm has a market cap of $1,788.59, a PE ratio of 175.96 and a beta of 0.76.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). Dril-Quip had a positive return on equity of 0.56% and a negative net margin of 22.10%. The firm had revenue of $107.97 million for the quarter, compared to analyst estimates of $99.73 million. During the same quarter last year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. research analysts anticipate that Dril-Quip will post 0.08 EPS for the current year.
In other Dril-Quip news, CFO Jeffrey J. Bird sold 1,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $43.99, for a total value of $43,990.00. Following the completion of the sale, the chief financial officer now directly owns 21,878 shares in the company, valued at $962,413.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $43.99, for a total transaction of $87,980.00. Following the completion of the sale, the vice president now owns 33,994 shares of the company’s stock, valued at $1,495,396.06. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Large investors have recently bought and sold shares of the business. Elkfork Partners LLC acquired a new position in shares of Dril-Quip during the fourth quarter valued at about $196,000. Unison Advisors LLC acquired a new position in shares of Dril-Quip during the fourth quarter valued at about $212,000. BlueCrest Capital Management Ltd acquired a new position in shares of Dril-Quip during the fourth quarter valued at about $246,000. ING Groep NV grew its holdings in shares of Dril-Quip by 23.3% during the fourth quarter. ING Groep NV now owns 5,713 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 1,079 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Dril-Quip during the fourth quarter valued at about $275,000.
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Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.
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