Dril-Quip (DRQ) Earns “Buy” Rating from B. Riley

Dril-Quip (NYSE:DRQ)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research report issued to clients and investors on Monday.

Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of 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 target price on shares of Dril-Quip and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. Cowen set a $45.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Thursday, January 11th. Finally, Zacks Investment Research upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $49.38.

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Shares of Dril-Quip (NYSE DRQ) opened at $45.55 on Monday. Dril-Quip has a 52 week low of $35.85 and a 52 week high of $56.55. The company has a market cap of $1,737.11, a price-to-earnings ratio of -17.00 and a beta of 0.81.

Dril-Quip (NYSE:DRQ) last released its earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 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 firm had revenue of $107.97 million during the quarter, compared to analyst estimates of $99.73 million. During the same quarter last year, the business posted $0.23 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. research analysts forecast that Dril-Quip will post 0.08 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Dril-Quip by 0.9% in the fourth quarter. BlackRock Inc. now owns 4,136,205 shares of the oil and gas company’s stock valued at $197,297,000 after purchasing an additional 36,073 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Dril-Quip by 5.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,249,154 shares of the oil and gas company’s stock valued at $59,584,000 after purchasing an additional 61,171 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Dril-Quip by 43.4% in the third quarter. Wells Fargo & Company MN now owns 842,542 shares of the oil and gas company’s stock valued at $37,199,000 after purchasing an additional 255,037 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Dril-Quip by 8.4% in the fourth quarter. Macquarie Group Ltd. now owns 724,546 shares of the oil and gas company’s stock valued at $34,561,000 after purchasing an additional 56,155 shares during the period. Finally, Boston Partners lifted its stake in shares of Dril-Quip by 68.3% in the fourth quarter. Boston Partners now owns 617,025 shares of the oil and gas company’s stock valued at $29,432,000 after purchasing an additional 250,480 shares during the period.

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About Dril-Quip

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.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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