Dril-Quip, Inc. (NYSE:DRQ) – Research analysts at Capital One Financial boosted their Q1 2018 earnings estimates for Dril-Quip in a research report issued on Thursday. Capital One Financial analyst J. Gibney now expects that the oil and gas company will post earnings per share of ($0.01) for the quarter, up from their previous estimate of ($0.08). Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for Dril-Quip’s Q2 2018 earnings at $0.00 EPS and FY2018 earnings at $0.03 EPS.
Other analysts have also recently issued reports about the stock. B. Riley reissued a “buy” rating on shares of Dril-Quip in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, November 1st. TheStreet raised shares of Dril-Quip from a “d+” rating to a “c-” rating in a report on Friday, January 26th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Dril-Quip in a report on Friday, November 10th. Finally, Cowen set a $45.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Dril-Quip has an average rating of “Hold” and an average target price of $50.13.
Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Dril-Quip by 22.0% during the 2nd quarter. State Street Corp now owns 1,441,200 shares of the oil and gas company’s stock valued at $70,327,000 after buying an additional 260,352 shares during the period. The Manufacturers Life Insurance Company increased its stake in Dril-Quip by 51.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,965 shares of the oil and gas company’s stock valued at $4,147,000 after buying an additional 28,946 shares during the period. Shell Asset Management Co. acquired a new position in Dril-Quip during the 3rd quarter valued at about $1,742,000. Speece Thorson Capital Group Inc. increased its stake in Dril-Quip by 1.2% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 337,490 shares of the oil and gas company’s stock valued at $14,900,000 after buying an additional 3,893 shares during the period. Finally, Tocqueville Asset Management L.P. increased its stake in Dril-Quip by 8.2% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 95,364 shares of the oil and gas company’s stock valued at $4,210,000 after buying an additional 7,245 shares during the period.
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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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