Dril-Quip, Inc. (DRQ) Reaches New 52-Week Low at $39.85

Dril-Quip, Inc. (NYSE:DRQ) shares hit a new 52-week low during trading on Monday . The company traded as low as $39.85 and last traded at $40.05, with a volume of 158,114 shares. The stock had previously closed at $40.15.

A number of research analysts have commented on DRQ shares. 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. BidaskClub upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note 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 target on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Finally, Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $56.00.

The firm has a market capitalization of $1.50 billion, a PE ratio of 73.79 and a beta of 0.63. The company has a 50-day moving average price of $46.94 and a 200 day moving average price of $52.68.

Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue was down 10.2% compared to the same quarter last year. On average, equities analysts expect that Dril-Quip, Inc. will post $0.12 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. QS Investors LLC raised its position in shares of Dril-Quip by 0.5% in the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after buying an additional 13 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Dril-Quip by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company’s stock worth $383,000 after buying an additional 33 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Dril-Quip by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 35,235 shares of the oil and gas company’s stock worth $1,922,000 after buying an additional 114 shares during the period. Commerce Bank increased its stake in shares of Dril-Quip by 3.1% in the second quarter. Commerce Bank now owns 5,125 shares of the oil and gas company’s stock worth $250,000 after buying an additional 155 shares during the period. Finally, Advantus Capital Management Inc increased its stake in shares of Dril-Quip by 3.6% in the first quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock worth $264,000 after buying an additional 170 shares during the period.

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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.