Dril-Quip, Inc. (NYSE:DRQ) has been assigned a $43.00 price objective by equities research analysts at Cowen and Company in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Cowen and Company’s price target points to a potential downside of 1.83% from the company’s previous close.

A number of other equities analysts have also recently weighed in on DRQ. BidaskClub upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Saturday, July 29th. Finally, Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $53.67.

Dril-Quip (NYSE DRQ) opened at 43.80 on Friday. Dril-Quip has a 52-week low of $35.85 and a 52-week high of $69.40. The firm has a 50-day moving average of $41.07 and a 200 day moving average of $47.74. The company has a market capitalization of $1.66 billion, a P/E ratio of 81.41 and a beta of 0.70.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. The company had revenue of $127.90 million during 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Equities analysts predict that Dril-Quip will post $0.11 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.watchlistnews.com/dril-quip-inc-drq-given-a-43-00-price-target-by-cowen-and-company-analysts/1616749.html.

In other news, VP James C. Webster sold 2,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $43.49, for a total value of $86,980.00. Following the completion of the sale, the vice president now directly owns 24,104 shares in the company, valued at $1,048,282.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised 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 during the last quarter. UBS Group AG raised its position in shares of Dril-Quip by 2.7% in the first quarter. UBS Group AG now owns 38,635 shares of the oil and gas company’s stock valued at $2,108,000 after buying an additional 1,002 shares during the last quarter. State Street Corp raised its position in shares of Dril-Quip by 2.7% in the first quarter. State Street Corp now owns 1,180,848 shares of the oil and gas company’s stock valued at $64,416,000 after buying an additional 31,362 shares during the last quarter. American Century Companies Inc. raised its position in shares of Dril-Quip by 0.5% in the second quarter. American Century Companies Inc. now owns 879,376 shares of the oil and gas company’s stock valued at $42,914,000 after buying an additional 3,963 shares during the last quarter. Finally, Heartland Advisors Inc. acquired a new stake in shares of Dril-Quip in the second quarter valued at about $5,467,000.

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.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

Receive News & Ratings for Dril-Quip Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.