Dril-Quip, Inc. (NYSE:DRQ) – Equities researchers at Gabelli reduced their FY2020 EPS estimates for shares of Dril-Quip in a research report issued on Monday. Gabelli analyst S. Wong now anticipates that the oil and gas company will earn $1.50 per share for the year, down from their prior forecast of $1.60. Gabelli currently has a “Hold” rating and a $43.00 target price on the stock. Gabelli also issued estimates for Dril-Quip’s FY2021 earnings at $2.45 EPS.

DRQ has been the topic of a number of other research reports. BidaskClub lowered shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. TheStreet lowered shares of Dril-Quip from a “c” rating to a “d+” rating in a research note on Friday, October 27th. FBR & Co reaffirmed a “buy” rating on shares of Dril-Quip in a research note on Friday, October 27th. Wolfe Research raised shares of Dril-Quip from an “underperform” rating to a “market perform” rating in a research note on Tuesday, October 31st. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $38.00 price target on shares of Dril-Quip in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $48.57.

Shares of Dril-Quip (NYSE DRQ) traded down $2.00 on Wednesday, hitting $44.05. 493,726 shares of the stock were exchanged, compared to its average volume of 563,734. The company has a market cap of $1,845.70, a price-to-earnings ratio of 116.07 and a beta of 0.73. Dril-Quip has a 52-week low of $35.85 and a 52-week high of $69.40.

Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative net margin of 6.14% and a positive return on equity of 1.19%. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS.

In related news, insider Blake T. Deberry sold 10,000 shares of Dril-Quip stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP James C. Webster sold 2,000 shares of Dril-Quip stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.49, for a total transaction of $86,980.00. Following the completion of the transaction, the vice president now directly owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,662 shares of company stock valued at $2,013,999. 0.87% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in Dril-Quip in the third quarter worth about $484,000. Stifel Financial Corp raised its holdings in Dril-Quip by 8.8% in the third quarter. Stifel Financial Corp now owns 73,853 shares of the oil and gas company’s stock worth $3,271,000 after buying an additional 5,998 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Dril-Quip in the third quarter worth about $695,000. Schwab Charles Investment Management Inc. raised its holdings in Dril-Quip by 12.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 281,882 shares of the oil and gas company’s stock worth $12,446,000 after buying an additional 30,800 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Dril-Quip in the third quarter worth about $339,000.

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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.

Earnings History and Estimates for Dril-Quip (NYSE:DRQ)

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