Dril-Quip, Inc. (DRQ) Cut to “D+” at TheStreet

Dril-Quip, Inc. (NYSE:DRQ) was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating in a research note issued on Friday.

DRQ has been the subject of several other reports. Cowen and Company set a $43.00 price target on Dril-Quip and gave the stock a “hold” rating in a research note on Friday, October 6th. 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. Scotiabank set a $61.00 price target on Dril-Quip and gave the stock a “hold” rating in a research note on Friday. FBR & Co restated a “buy” rating on shares of Dril-Quip in a research note on Friday. Finally, BidaskClub lowered Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.00.

Dril-Quip (NYSE:DRQ) opened at 41.50 on Friday. Dril-Quip has a one year low of $35.85 and a one year high of $69.40. The company’s 50-day moving average price is $42.69 and its 200-day moving average price is $46.33. The stock has a market capitalization of $1.57 billion, a PE ratio of 77.14 and a beta of 0.69.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company had revenue of $100.35 million during the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The firm’s 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 predict that Dril-Quip will post $0.09 EPS for the current year.

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In other news, VP James C. Webster sold 2,000 shares of the 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 completion of the sale, the vice president now owns 24,104 shares in the company, valued at $1,048,282.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. QS Investors LLC grew its stake 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. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Dril-Quip by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 33 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Dril-Quip by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 35,235 shares of the oil and gas company’s stock valued at $1,922,000 after buying an additional 114 shares in the last quarter. Commerce Bank grew its stake in shares of Dril-Quip by 3.1% in the second quarter. Commerce Bank now owns 5,125 shares of the oil and gas company’s stock valued at $250,000 after buying an additional 155 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Dril-Quip by 3.0% in the first quarter. Amalgamated Bank now owns 5,989 shares of the oil and gas company’s stock valued at $327,000 after buying an additional 176 shares in 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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