Dril-Quip (DRQ) Given a $45.00 Price Target at Cowen

Dril-Quip (NYSE:DRQ) received a $45.00 target price from investment analysts at Cowen in a research note issued on Thursday. The firm presently has a “hold” rating on the oil and gas company’s stock. Cowen’s target price points to a potential downside of 20.14% from the stock’s current price.

Other research analysts have also recently issued reports about the company. FBR & Co upgraded Dril-Quip from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $55.00 in a research report on Tuesday, October 10th. B. Riley reiterated a “buy” rating on shares of Dril-Quip in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, November 1st. TheStreet cut Dril-Quip from a “c” rating to a “d+” rating in a research report on Friday, October 27th. Finally, 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $49.43.

Dril-Quip (DRQ) opened at $56.35 on Thursday. The firm has a market capitalization of $2,133.47, a P/E ratio of 134.17 and a beta of 0.74. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $67.95.

Dril-Quip (NYSE:DRQ) last announced 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 company had revenue of $100.35 million during the quarter, compared to analysts’ expectations 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 last year, the business earned $0.63 earnings per share. analysts expect that Dril-Quip will post 0.21 EPS for the current fiscal year.

In other news, insider Blake T. Deberry sold 14,819 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was 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 in the company, valued at $4,695,630.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Blake T. Deberry sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total value of $446,600.00. Following the completion of the sale, the insider now owns 126,208 shares of the company’s stock, valued at $5,636,449.28. The disclosure for this sale can be found here. Insiders sold 45,662 shares of company stock valued at $1,927,019 over the last 90 days. Company insiders own 0.87% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC increased its position in shares of Dril-Quip by 66.4% in the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,063 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Dril-Quip in the third quarter valued at approximately $136,000. QS Investors LLC increased its position in shares of Dril-Quip by 0.5% in the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 13 shares in the last quarter. Flinton Capital Management LLC increased its position in shares of Dril-Quip by 64.8% in the second quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 1,596 shares in the last quarter. Finally, Symons Capital Management Inc. purchased a new stake in shares of Dril-Quip in the third quarter valued at approximately $232,000.

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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.