Dril-Quip, Inc. (NYSE:DRQ)’s share price was down 4.4% during trading on Monday after Cowen and lowered their price target on the stock from $55.00 to $43.00. Cowen and currently has a market perform rating on the stock. Dril-Quip traded as low as $45.35 and last traded at $43.40, with a volume of 498,215 shares. The stock had previously closed at $45.40.
A number of other research firms have also recently commented on DRQ. BidaskClub cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Barclays PLC cut shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $77.00 to $57.00 in a research note on Monday, May 1st. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $58.63.
Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in shares of Dril-Quip by 60.3% in the first quarter. Janney Montgomery Scott LLC now owns 19,957 shares of the oil and gas company’s stock worth $1,089,000 after buying an additional 7,508 shares during the last quarter. First Quadrant L P CA raised its stake in Dril-Quip by 2.3% in the first quarter. First Quadrant L P CA now owns 474,734 shares of the oil and gas company’s stock worth $25,897,000 after buying an additional 10,462 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Dril-Quip during the first quarter worth approximately $483,000. Speece Thorson Capital Group Inc. raised its stake in Dril-Quip by 25.4% in the first quarter. Speece Thorson Capital Group Inc. now owns 302,712 shares of the oil and gas company’s stock worth $16,513,000 after buying an additional 61,292 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. purchased a new stake in Dril-Quip during the first quarter worth approximately $17,129,000.
The stock has a market capitalization of $1.69 billion, a P/E ratio of 29.75 and a beta of 0.65. The company’s 50 day moving average price is $49.69 and its 200-day moving average price is $54.30.
Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. Dril-Quip had a return on equity of 2.13% and a net margin of 4.28%. The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $112.12 million. During the same period last year, the company earned $0.96 earnings per share. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts anticipate that Dril-Quip, Inc. will post $0.19 earnings per share for the current fiscal year.
Dril-Quip Company Profile
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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