Dril-Quip (DRQ) Downgraded by ValuEngine

ValuEngine cut shares of Dril-Quip (NYSE:DRQ) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Several other equities analysts have also weighed in on DRQ. Zacks Investment Research lowered Dril-Quip from a hold rating to a sell rating in a report on Wednesday, January 3rd. Cowen set a $45.00 price objective on Dril-Quip and gave the company a hold rating in a report on Thursday, January 11th. TheStreet raised Dril-Quip from a d+ rating to a c- rating in a report on Friday, January 26th. Capital One reissued an equal weight rating on shares of Dril-Quip in a report on Thursday, February 22nd. Finally, B. Riley set a $55.00 price objective on Dril-Quip and gave the company a buy rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Dril-Quip presently has a consensus rating of Hold and a consensus price target of $48.75.

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DRQ stock opened at $44.55 on Wednesday. The company has a market capitalization of $1,719.94, a PE ratio of 171.35 and a beta of 0.76. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $56.55.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Dril-Quip had a negative net margin of 22.10% and a positive return on equity of 0.56%. The firm had revenue of $107.97 million for the quarter, compared to the consensus estimate of $99.73 million. During the same period last year, the company posted $0.23 earnings per share. Dril-Quip’s revenue for the quarter was up 1.8% on a year-over-year basis. analysts anticipate that Dril-Quip will post 0.06 EPS for the current year.

In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the 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 sale, the vice president now owns 33,994 shares in the company, valued at $1,495,396.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey J. Bird sold 1,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $43.99, for a total value of $43,990.00. Following the sale, the chief financial officer now owns 21,878 shares in the company, valued at approximately $962,413.22. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Large investors have recently bought and sold shares of the business. Elkfork Partners LLC purchased a new stake in shares of Dril-Quip during the fourth quarter worth $196,000. Unison Advisors LLC purchased a new stake in shares of Dril-Quip during the fourth quarter worth $212,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Dril-Quip during the fourth quarter worth $246,000. ING Groep NV lifted its position 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 worth $273,000 after acquiring an additional 1,079 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Dril-Quip during the fourth quarter worth $275,000.

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Dril-Quip Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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