Cowen and Company set a $43.00 price objective on Dril-Quip, Inc. (NYSE:DRQ) in a research report report published on Friday morning. The firm currently has a hold rating on the oil and gas company’s stock.
DRQ has been the topic of several other research reports. BidaskClub lowered shares of Dril-Quip from a hold rating to a sell rating in a research note on Thursday, July 27th. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the stock a hold rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the stock a hold rating in a research note on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $53.67.
Dril-Quip (NYSE DRQ) opened at 43.80 on Friday. The company’s 50 day moving average is $41.07 and its 200 day moving average is $47.74. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 81.41 and a beta of 0.69. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $69.40.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. During the same quarter in the prior year, the business posted $0.96 EPS. Dril-Quip’s quarterly revenue was down 10.2% on a year-over-year basis. On average, equities analysts anticipate that Dril-Quip will post $0.11 earnings per share 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 on Monday, October 2nd. The shares were sold at an average price of $43.49, for a total transaction of $86,980.00. Following the transaction, the vice president now owns 24,104 shares in the company, valued at approximately $1,048,282.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Dril-Quip by 8,615.2% during the 1st quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock worth $195,368,000 after buying an additional 3,540,338 shares during the period. UBS Group AG boosted its holdings in shares of Dril-Quip by 2.7% during the 1st quarter. UBS Group AG now owns 38,635 shares of the oil and gas company’s stock worth $2,108,000 after buying an additional 1,002 shares during the period. State Street Corp boosted its holdings in shares of Dril-Quip by 2.7% during the 1st quarter. State Street Corp now owns 1,180,848 shares of the oil and gas company’s stock worth $64,416,000 after buying an additional 31,362 shares during the period. American Century Companies Inc. boosted its holdings in shares of Dril-Quip by 0.5% during the 2nd quarter. American Century Companies Inc. now owns 879,376 shares of the oil and gas company’s stock worth $42,914,000 after buying an additional 3,963 shares during the period. Finally, Heartland Advisors Inc. bought a new stake in shares of Dril-Quip during the 2nd quarter worth $5,467,000.
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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