Dril-Quip, Inc. (DRQ) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Dril-Quip, Inc. (NYSE:DRQ) from a hold rating to a sell rating in a research note issued to investors on Thursday, July 27th.

DRQ has been the topic of several other research reports. Zacks Investment Research raised shares of Dril-Quip from a sell rating to a hold rating in a research report on Tuesday, May 2nd. Barclays PLC lowered shares of Dril-Quip from an overweight rating to an equal weight rating and lowered their price objective for the stock from $77.00 to $57.00 in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Dril-Quip has a consensus rating of Hold and an average target price of $56.00.

Shares of Dril-Quip (NYSE DRQ) traded down 1.29% on Thursday, reaching $41.95. 494,183 shares of the company were exchanged. The firm has a market capitalization of $1.59 billion, a PE ratio of 77.97 and a beta of 0.63. The company’s 50 day moving average is $48.70 and its 200 day moving average is $53.93. Dril-Quip has a 12-month low of $41.42 and a 12-month high of $69.40.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. During the same period last year, the firm earned $0.96 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. Analysts forecast that Dril-Quip will post $0.10 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of DRQ. Tyers Asset Management LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 308 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 944 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 392 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Dril-Quip by 17.6% in the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 450 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 476 shares in the last quarter.

About Dril-Quip

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.