ValuEngine Lowers Dril-Quip (DRQ) to Hold

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ValuEngine downgraded shares of Dril-Quip (NYSE:DRQ) from a buy rating to a hold rating in a research report released on Saturday, ValuEngine reports.

A number of other analysts have also commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Dril-Quip in a research note on Thursday, January 17th. They issued a neutral rating for the company. Barclays upgraded shares of Dril-Quip from an underweight rating to an equal weight rating and set a $38.84 price target for the company in a research note on Wednesday, February 20th. Finally, Zacks Investment Research upgraded shares of Dril-Quip from a hold rating to a buy rating and set a $49.00 price target for the company in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $47.17.

NYSE:DRQ opened at $45.17 on Friday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -71.70 and a beta of 1.50. Dril-Quip has a fifty-two week low of $26.62 and a fifty-two week high of $58.95.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Tuesday, February 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.19. Dril-Quip had a negative net margin of 24.88% and a negative return on equity of 2.17%. The business had revenue of $97.30 million during the quarter, compared to analyst estimates of $87.05 million. During the same period last year, the business earned $0.01 EPS. Dril-Quip’s revenue was down 9.9% compared to the same quarter last year. On average, equities research analysts predict that Dril-Quip will post -0.12 earnings per share for the current year.

In related news, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $45.84, for a total value of $91,680.00. Following the transaction, the vice president now owns 39,834 shares of the company’s stock, valued at $1,825,990.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in shares of Dril-Quip in the third quarter worth approximately $243,000. NumerixS Investment Technologies Inc purchased a new position in shares of Dril-Quip in the fourth quarter worth approximately $142,000. First Hawaiian Bank boosted its holdings in shares of Dril-Quip by 10.4% in the fourth quarter. First Hawaiian Bank now owns 7,879 shares of the oil and gas company’s stock worth $236,000 after buying an additional 740 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in Dril-Quip by 22.0% during the fourth quarter. Flinton Capital Management LLC now owns 8,540 shares of the oil and gas company’s stock valued at $256,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Dril-Quip during the fourth quarter valued at approximately $268,000.

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.

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

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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