Piper Jaffray Companies set a $43.00 target price on Dril-Quip, Inc. (NYSE:DRQ) in a research note released on Saturday, July 29th. The brokerage currently has a hold rating on the oil and gas company’s stock.
Other analysts also recently issued reports about the stock. Barclays PLC downgraded shares of Dril-Quip from an overweight rating to an equal weight rating and reduced their price target for the company from $77.00 to $57.00 in a report on Monday, May 1st. BidaskClub upgraded shares of Dril-Quip from a sell rating to a hold rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Dril-Quip from a sell rating to a hold rating in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $56.00.
Dril-Quip (NYSE DRQ) opened at 37.50 on Friday. Dril-Quip has a 12-month low of $36.75 and a 12-month high of $69.40. The stock has a 50 day moving average of $45.98 and a 200 day moving average of $52.30. The company has a market cap of $1.42 billion, a PE ratio of 69.70 and a beta of 0.63.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. Dril-Quip’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 firm posted $0.96 EPS. Equities analysts expect that Dril-Quip will post $0.12 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Dril-Quip by 0.6% in the first quarter. FMR LLC now owns 5,073,126 shares of the oil and gas company’s stock worth $276,739,000 after buying an additional 30,340 shares during the period. BlackRock Inc. increased its stake in Dril-Quip by 17.9% in the second quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock worth $206,022,000 after buying an additional 640,319 shares during the period. Vanguard Group Inc. increased its stake in Dril-Quip by 3.8% in the second quarter. Vanguard Group Inc. now owns 3,226,409 shares of the oil and gas company’s stock worth $157,449,000 after buying an additional 118,295 shares during the period. Dimensional Fund Advisors LP increased its stake in Dril-Quip by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock worth $153,221,000 after buying an additional 684,559 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Dril-Quip by 8.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,216,122 shares of the oil and gas company’s stock worth $120,889,000 after buying an additional 167,173 shares during the period.
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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