Dril-Quip, Inc. (DRQ) Receives Consensus Recommendation of “Hold” from Analysts

Dril-Quip, Inc. (NYSE:DRQ) has earned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $48.80.

A number of equities analysts have recently issued reports on DRQ shares. Cowen set a $43.00 price target on Dril-Quip and gave the stock a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. 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. ValuEngine downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $38.00 price target on shares of Dril-Quip in a research report on Friday, November 10th.

In related news, CFO Jeffrey J. Bird sold 1,931 shares of the company’s stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James C. Webster sold 4,890 shares of the company’s stock in a transaction on Monday, October 30th. The shares were 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 have sold 45,662 shares of company stock worth $1,927,019. Insiders own 0.87% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRQ. Schwab Charles Investment Management Inc. increased its position in shares of Dril-Quip by 49.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 251,082 shares of the oil and gas company’s stock valued at $12,253,000 after acquiring an additional 83,308 shares during the period. Swiss National Bank increased its position in shares of Dril-Quip by 2.6% in the 2nd quarter. Swiss National Bank now owns 63,400 shares of the oil and gas company’s stock valued at $3,094,000 after acquiring an additional 1,600 shares during the period. Riverhead Capital Management LLC increased its position 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 acquiring an additional 1,063 shares during the period. Teachers Advisors LLC increased its position in shares of Dril-Quip by 11.6% in the 2nd quarter. Teachers Advisors LLC now owns 233,550 shares of the oil and gas company’s stock valued at $11,397,000 after acquiring an additional 24,346 shares during the period. Finally, BlackRock Inc. increased its position in shares of Dril-Quip by 17.9% in the 2nd quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock valued at $206,022,000 after acquiring an additional 640,319 shares during the period.

Shares of Dril-Quip (DRQ) traded down $0.20 during trading hours on Friday, reaching $54.00. 251,377 shares of the company were exchanged, compared to its average volume of 468,895. The company has a market capitalization of $2,040.00, a P/E ratio of -72.97 and a beta of 0.74. Dril-Quip has a 52 week low of $35.85 and a 52 week high of $67.95.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $100.35 million for the quarter, compared to the consensus estimate of $106.74 million. Dril-Quip had a negative return on equity of 8.55% and a negative net margin of 29.16%. The business’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. equities research analysts forecast that Dril-Quip will post 0.21 EPS for the current year.

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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.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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