Dril-Quip, Inc. (DRQ) Hits New 12-Month Low at $41.85

Shares of Dril-Quip, Inc. (NYSE:DRQ) reached a new 52-week low during trading on Tuesday . The stock traded as low as $41.85 and last traded at $41.75, with a volume of 273,339 shares. The stock had previously closed at $42.50.

Several analysts have commented on the stock. BidaskClub raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Barclays PLC cut shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $77.00 to $57.00 in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Dril-Quip currently has an average rating of “Hold” and a consensus target price of $56.00.

The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 77.42 and a beta of 0.63. The firm has a 50 day moving average price of $49.45 and a 200 day moving average price of $54.17.

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, beating the consensus estimate of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The business had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $112.12 million. During the same period last year, the business earned $0.96 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. On average, equities analysts anticipate that Dril-Quip, Inc. will post $0.10 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in DRQ. Tyers Asset Management LLC boosted its position in 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 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 worth $109,000 after buying an additional 944 shares during the period. Flinton Capital Management LLC boosted its position in 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 worth $134,000 after buying an additional 392 shares during the period. LS Investment Advisors LLC boosted its position in 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 worth $147,000 after buying an additional 450 shares during the period. Finally, Neuburgh Advisers LLC boosted its position in 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 worth $163,000 after buying an additional 476 shares during the period.

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.