BidaskClub lowered 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.
Several other research analysts have also recently commented on DRQ. Barclays PLC cut shares of Dril-Quip from an overweight rating to an equal weight rating and lowered their price target for the stock from $77.00 to $57.00 in a report on Monday, May 1st. Zacks Investment Research upgraded shares of Dril-Quip from a sell rating to a hold rating in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Dril-Quip presently has an average rating of Hold and a consensus target price of $56.00.
Shares of Dril-Quip (DRQ) opened at 38.15 on Thursday. The stock has a market cap of $1.44 billion, a PE ratio of 70.91 and a beta of 0.63. Dril-Quip has a 52-week low of $38.05 and a 52-week high of $69.40. The company’s 50-day moving average is $46.63 and its 200-day moving average is $52.58.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping 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 company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $112.12 million. During the same quarter in the previous year, the business posted $0.96 EPS. The firm’s revenue was down 10.2% on a year-over-year basis. Equities analysts anticipate that Dril-Quip will post $0.12 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Grandeur Peak Global Advisors LLC increased its stake in shares of Dril-Quip by 1.4% in the second quarter. Grandeur Peak Global Advisors LLC now owns 52,250 shares of the oil and gas company’s stock valued at $2,550,000 after buying an additional 700 shares in the last quarter. Dean Capital Management increased its stake in shares of Dril-Quip by 163.4% in the second quarter. Dean Capital Management now owns 102,469 shares of the oil and gas company’s stock valued at $5,001,000 after buying an additional 63,560 shares in the last quarter. Sterling Capital Management LLC bought a new stake in shares of Dril-Quip during the second quarter valued at $778,000. Ameritas Investment Partners Inc. increased its stake in shares of Dril-Quip by 10.8% in the second quarter. Ameritas Investment Partners Inc. now owns 34,254 shares of the oil and gas company’s stock valued at $1,671,000 after buying an additional 3,326 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Dril-Quip by 51.7% in the second quarter. The Manufacturers Life Insurance Company now owns 84,965 shares of the oil and gas company’s stock valued at $4,147,000 after buying an additional 28,946 shares in the last quarter.
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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