Dril-Quip, Inc. (NYSE:DRQ) has earned an average rating of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $48.00.
A number of research analysts recently issued reports on the company. Capital One Financial reaffirmed an “equal weight” rating on shares of Dril-Quip in a report on Thursday, February 22nd. Cowen set a $40.00 price target on Dril-Quip and gave the company a “hold” rating in a research report on Friday. ValuEngine upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research report on Thursday, April 12th. TheStreet upgraded Dril-Quip from a “d+” rating to a “c-” rating in a research report on Friday, January 26th. Finally, B. Riley set a $55.00 price objective on Dril-Quip and gave the stock a “buy” rating in a research report on Friday, February 23rd.
Shares of DRQ traded down $1.15 during trading hours on Thursday, reaching $44.60. 304,904 shares of the company’s stock traded hands, compared to its average volume of 482,429. The firm has a market capitalization of $1,788.59, a price-to-earnings ratio of 234.50 and a beta of 0.76. Dril-Quip has a twelve month low of $35.85 and a twelve month high of $56.55.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $107.97 million for the quarter, compared to analyst estimates of $99.73 million. Dril-Quip had a negative net margin of 22.10% and a positive return on equity of 0.56%. Dril-Quip’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. research analysts expect that Dril-Quip will post 0.08 earnings per share for the current fiscal year.
In other Dril-Quip news, CFO Jeffrey J. Bird sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $43.99, for a total transaction 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 approximately $962,413.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $43.99, for a total value of $87,980.00. Following 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.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its holdings in shares of Dril-Quip by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 176,635 shares of the oil and gas company’s stock valued at $7,798,000 after buying an additional 1,871 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Dril-Quip by 27.5% during the third quarter. TD Asset Management Inc. now owns 13,900 shares of the oil and gas company’s stock valued at $614,000 after purchasing an additional 3,000 shares during the period. Legal & General Group Plc increased its position in shares of Dril-Quip by 14.1% during the third quarter. Legal & General Group Plc now owns 34,473 shares of the oil and gas company’s stock valued at $1,522,000 after purchasing an additional 4,273 shares during the period. Wells Fargo & Company MN increased its position in shares of Dril-Quip by 43.4% during the third quarter. Wells Fargo & Company MN now owns 842,542 shares of the oil and gas company’s stock valued at $37,199,000 after purchasing an additional 255,037 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Dril-Quip by 12.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 281,882 shares of the oil and gas company’s stock valued at $12,446,000 after purchasing an additional 30,800 shares during the period.
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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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