Dril-Quip (DRQ) Upgraded at ValuEngine

ValuEngine upgraded shares of Dril-Quip (NYSE:DRQ) from a sell rating to a hold rating in a research report released on Thursday morning.

A number of other research analysts also recently issued reports on the stock. B. Riley reiterated a buy rating and issued a $55.00 price target on shares of Dril-Quip in a research note on Monday, March 26th. Piper Jaffray set a $40.00 price target on shares of Dril-Quip and gave the stock a hold rating in a research note on Thursday, March 8th. Barclays set a $49.00 price target on shares of Dril-Quip and gave the stock an equal weight rating in a research note on Wednesday, February 28th. Zacks Investment Research upgraded shares of Dril-Quip from a sell rating to a hold rating in a research note on Monday, February 26th. Finally, Capital One Financial reiterated an equal weight rating on shares of Dril-Quip in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Dril-Quip presently has a consensus rating of Hold and a consensus target price of $48.75.

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Shares of Dril-Quip stock opened at $46.90 on Thursday. Dril-Quip has a 52-week low of $35.85 and a 52-week high of $56.55. The company has a market capitalization of $1,821.01, a P/E ratio of 180.38 and a beta of 0.76.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Dril-Quip had a positive return on equity of 0.56% and a negative net margin of 22.10%. The firm had revenue of $107.97 million during the quarter, compared to analysts’ expectations of $99.73 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. equities research analysts forecast that Dril-Quip will post 0.08 EPS for the current fiscal year.

In other news, VP James C. Webster sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $43.99, for a total transaction of $87,980.00. Following the completion of the sale, the vice president now owns 33,994 shares in the company, valued at approximately $1,495,396.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey J. Bird sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $43.99, for a total transaction of $43,990.00. Following the sale, the chief financial officer now owns 21,878 shares of the company’s stock, valued at approximately $962,413.22. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of DRQ. Elkfork Partners LLC purchased a new stake in shares of Dril-Quip during the 4th quarter worth approximately $196,000. Unison Advisors LLC purchased a new stake in shares of Dril-Quip during the 4th quarter worth approximately $212,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Dril-Quip during the 4th quarter worth approximately $246,000. ING Groep NV lifted its position in shares of Dril-Quip by 23.3% during the 4th quarter. ING Groep NV now owns 5,713 shares of the oil and gas company’s stock worth $273,000 after buying an additional 1,079 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Dril-Quip during the 4th quarter worth approximately $275,000.

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Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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