Several other research firms have also recently commented 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 dropped their price objective on Dril-Quip from $55.00 to $43.00 and set a market perform rating on the stock in a research report on Monday, July 31st. Piper Jaffray Companies set a $43.00 price objective on Dril-Quip and gave the company a hold rating in a research report on Saturday, July 29th. FBR & Co raised Dril-Quip from a neutral rating to a buy rating and increased their price objective for the company from $49.00 to $55.00 in a research report on Tuesday, October 10th. Finally, Gabelli assumed coverage on Dril-Quip in a research report on Friday, October 20th. They set a hold rating and a $43.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Dril-Quip currently has an average rating of Hold and a consensus price target of $51.57.
Dril-Quip (NYSE:DRQ) opened at 41.50 on Friday. The company has a 50 day moving average of $42.65 and a 200-day moving average of $46.53. The stock has a market capitalization of $1.57 billion, a P/E ratio of 77.14 and a beta of 0.70. Dril-Quip has a one year low of $35.85 and a one year high of $69.40.
Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The company had revenue of $100.35 million for the quarter, compared to analysts’ expectations of $106.74 million. During the same period last year, the firm posted $0.63 earnings per share. Dril-Quip’s revenue was down 18.8% compared to the same quarter last year. Equities research analysts predict that Dril-Quip will post $0.09 earnings per share for the current fiscal year.
In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.49, for a total value of $86,980.00. Following the transaction, the vice president now directly owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Dril-Quip by 17.9% in the second quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock worth $206,022,000 after purchasing an additional 640,319 shares during the last quarter. Vanguard Group Inc. boosted its position in Dril-Quip by 3.8% in the second quarter. Vanguard Group Inc. now owns 3,226,409 shares of the oil and gas company’s stock worth $157,449,000 after purchasing an additional 118,295 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Dril-Quip by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock worth $153,221,000 after purchasing an additional 684,559 shares during the last quarter. State Street Corp boosted its position in Dril-Quip by 22.0% in the second quarter. State Street Corp now owns 1,441,200 shares of the oil and gas company’s stock worth $70,327,000 after purchasing an additional 260,352 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Dril-Quip by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 1,116,191 shares of the oil and gas company’s stock worth $54,471,000 after purchasing an additional 28,114 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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