Dril-Quip (DRQ) Upgraded to Hold at ValuEngine

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

Other equities research analysts also recently issued research reports about the company. B. Riley reiterated a buy rating and set a $55.00 price target on shares of Dril-Quip in a report on Monday, March 26th. TheStreet upgraded Dril-Quip from a d+ rating to a c- rating in a research note on Friday, January 26th. Capital One Financial restated an equal weight rating on shares of Dril-Quip in a research note on Thursday, February 22nd. Barclays set a $49.00 price objective on Dril-Quip and gave the company an equal weight rating in a research note on Wednesday, February 28th. Finally, Piper Jaffray set a $40.00 price objective on Dril-Quip and gave the company a hold rating in a research note on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $49.38.

Dril-Quip stock traded down $0.75 during trading on Thursday, hitting $47.00. 69,630 shares of the company were exchanged, compared to its average volume of 471,717. 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 $1,800.03, a P/E ratio of 183.65 and a beta of 0.76.



Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $107.97 million for the quarter, compared to the consensus estimate of $99.73 million. During the same quarter last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. sell-side analysts anticipate that Dril-Quip will post 0.08 EPS for the current fiscal year.

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

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Dril-Quip by 0.9% during the 4th quarter. BlackRock Inc. now owns 4,136,205 shares of the oil and gas company’s stock worth $197,297,000 after acquiring an additional 36,073 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Dril-Quip by 5.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,249,154 shares of the oil and gas company’s stock worth $59,584,000 after acquiring an additional 61,171 shares during the period. Macquarie Group Ltd. grew its stake in shares of Dril-Quip by 8.4% during the 4th quarter. Macquarie Group Ltd. now owns 724,546 shares of the oil and gas company’s stock worth $34,561,000 after acquiring an additional 56,155 shares during the period. Boston Partners grew its stake in shares of Dril-Quip by 68.3% during the 4th quarter. Boston Partners now owns 617,025 shares of the oil and gas company’s stock worth $29,432,000 after acquiring an additional 250,480 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Dril-Quip by 72.9% during the 4th quarter. Deutsche Bank AG now owns 576,841 shares of the oil and gas company’s stock worth $27,513,000 after acquiring an additional 243,127 shares during the period.

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About Dril-Quip

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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