Piper Jaffray Companies set a $43.00 price objective on Dril-Quip, Inc. (NYSE:DRQ) in a report issued on Saturday, July 29th. The firm currently has a hold rating on the oil and gas company’s stock.
Several other brokerages have also commented on DRQ. BidaskClub raised shares of Dril-Quip from a sell rating to a hold rating in a research report on Tuesday, June 13th. 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. Finally, Zacks Investment Research raised shares of Dril-Quip from a sell rating to a hold rating in a research report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Dril-Quip currently has a consensus rating of Hold and an average price target of $56.00.
Shares of Dril-Quip (NYSE:DRQ) traded up 0.12% during trading on Friday, reaching $41.00. The company had a trading volume of 54,902 shares. The company has a market cap of $1.55 billion, a P/E ratio of 76.21 and a beta of 0.63. The firm has a 50-day moving average of $47.71 and a 200-day moving average of $53.32. Dril-Quip has a 12-month low of $40.50 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, topping the consensus estimate of $0.03 by $0.06. The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. On average, equities research analysts anticipate that Dril-Quip will post $0.10 EPS for the current year.
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A number of institutional investors have recently modified their holdings of DRQ. BlackRock Inc. boosted its position in shares of Dril-Quip by 8,615.2% in the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after buying an additional 3,540,338 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Dril-Quip by 31.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,193 shares of the oil and gas company’s stock valued at $133,929,000 after buying an additional 587,520 shares in the last quarter. Norges Bank purchased a new position in shares of Dril-Quip during the fourth quarter valued at approximately $24,435,000. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of Dril-Quip during the first quarter valued at approximately $17,129,000. Finally, Alliancebernstein L.P. boosted its position in shares of Dril-Quip by 1,074.1% in the second quarter. Alliancebernstein L.P. now owns 329,283 shares of the oil and gas company’s stock valued at $16,069,000 after buying an additional 301,237 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.
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