Dril-Quip (DRQ) PT Set at $45.00 by Cowen
Several other research analysts have also weighed in on the company. TheStreet lowered Dril-Quip from a c rating to a d+ rating in a research report on Friday, October 27th. Zacks Investment Research lowered Dril-Quip from a buy rating to a hold rating in a research report on Friday, November 10th. FBR & Co reissued a buy rating on shares of Dril-Quip in a research report on Friday, October 27th. Scotiabank set a $61.00 price target on Dril-Quip and gave the company a hold rating in a research report on Friday, October 27th. Finally, Gabelli started coverage on Dril-Quip in a research report on Friday, October 20th. They set a hold rating and a $43.00 price target on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Dril-Quip has a consensus rating of Hold and an average price target of $49.43.
Shares of Dril-Quip (NYSE DRQ) opened at $56.35 on Thursday. Dril-Quip has a fifty-two week low of $35.85 and a fifty-two week high of $67.95. The company has a market capitalization of $2,133.44, a price-to-earnings ratio of -75.13 and a beta of 0.74.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. Dril-Quip’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. sell-side analysts predict that Dril-Quip will post 0.21 EPS for the current fiscal year.
In other Dril-Quip news, CFO Jeffrey J. Bird sold 1,931 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $80,117.19. Following the transaction, the chief financial officer now directly owns 24,719 shares of the company’s stock, valued at approximately $1,025,591.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James C. Webster sold 4,890 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $202,886.10. Following the completion of the transaction, the vice president now directly owns 34,947 shares in the company, valued at $1,449,951.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,662 shares of company stock worth $1,927,019. Insiders own 0.87% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC increased its position in Dril-Quip by 66.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 1,063 shares during the last quarter. QS Investors LLC increased its position in Dril-Quip by 0.5% in the 2nd quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 13 shares during the last quarter. Quantbot Technologies LP acquired a new position in Dril-Quip in the 3rd quarter worth about $136,000. Flinton Capital Management LLC increased its position in Dril-Quip by 64.8% in the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 1,596 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Dril-Quip in the 2nd quarter worth about $241,000.
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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