Dril-Quip, Inc. (DRQ) Given “Hold” Rating at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their hold rating on shares of Dril-Quip, Inc. (NYSE:DRQ) in a research note issued to investors on Friday. Piper Jaffray Companies currently has a $38.00 target price on the oil and gas company’s stock.
Several other research firms have also recently issued reports on DRQ. BidaskClub cut Dril-Quip from a hold rating to a sell rating in a research report on Thursday, July 27th. Cowen and Company set a $43.00 price target on Dril-Quip and gave the company a hold rating in a research note on Friday, October 6th. B. Riley reissued a buy rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Gabelli started coverage on Dril-Quip in a research note on Friday, October 20th. They set a hold rating and a $43.00 price target for the company. Finally, Zacks Investment Research raised Dril-Quip from a hold rating to a buy rating and set a $47.00 price target for the company in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $49.88.
Dril-Quip (NYSE DRQ) traded up $0.05 during trading hours on Friday, hitting $46.25. The company had a trading volume of 654,400 shares, compared to its average volume of 572,727. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $69.40. The stock has a market capitalization of $1,749.16, a PE ratio of 110.00 and a beta of 0.68.
Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The firm had revenue of $100.35 million during the quarter, compared to analysts’ expectations of $106.74 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was down 18.8% on a year-over-year basis. equities analysts forecast that Dril-Quip will post 0.18 EPS for the current fiscal year.
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In other news, Director A P. Shukis sold 613 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $42.80, for a total value of $26,236.40. Following the completion of the sale, the director now directly owns 12,282 shares of the company’s stock, valued at approximately $525,669.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Blake T. Deberry sold 14,819 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $614,840.31. Following the completion of the sale, the insider now directly owns 113,175 shares of the company’s stock, valued at $4,695,630.75. The disclosure for this sale can be found here. Insiders sold a total of 37,662 shares of company stock valued at $1,567,399 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.
Large investors have recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its stake in shares of 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 valued at $130,000 after purchasing an additional 1,063 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Dril-Quip in the 3rd quarter valued at approximately $136,000. QS Investors LLC lifted its stake in shares of 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 valued at $137,000 after purchasing an additional 13 shares during the last quarter. LS Investment Advisors LLC lifted its stake in shares of Dril-Quip by 17.6% in the 2nd quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after purchasing an additional 450 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its stake in shares of 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 valued at $198,000 after purchasing an additional 1,596 shares during 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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