Dril-Quip, Inc. (NYSE:DRQ – Get Rating) was down 4.1% during trading on Friday . The stock traded as low as $24.75 and last traded at $24.75. Approximately 1,132 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 344,534 shares. The stock had previously closed at $25.80.
Several research analysts recently commented on DRQ shares. Tudor, Pickering, Holt & Co. downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating and decreased their target price for the stock from $38.00 to $35.00 in a research note on Monday, March 14th. StockNews.com started coverage on shares of Dril-Quip in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Tudor Pickering cut shares of Dril-Quip from a “buy” rating to a “hold” rating and cut their price target for the company from $38.00 to $35.00 in a report on Monday, March 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.25.
The stock has a market cap of $873.33 million, a P/E ratio of -8.66 and a beta of 1.18. The stock’s fifty day moving average price is $28.78 and its 200 day moving average price is $28.70.
Dril-Quip (NYSE:DRQ – Get Rating) last announced its earnings results on Thursday, April 28th. The oil and gas company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.08). Dril-Quip had a negative net margin of 31.58% and a negative return on equity of 6.14%. The business had revenue of $83.14 million for the quarter, compared to the consensus estimate of $85.36 million. During the same quarter last year, the firm posted ($0.47) EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Dril-Quip, Inc. will post -0.5 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in Dril-Quip in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. bought a new position in Dril-Quip in the 1st quarter worth about $37,000. US Bancorp DE boosted its stake in Dril-Quip by 172.1% in the 1st quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 654 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Dril-Quip in the 1st quarter worth about $40,000. Finally, First PREMIER Bank bought a new position in Dril-Quip in the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 99.64% of the company’s stock.
Dril-Quip Company Profile (NYSE:DRQ)
Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. The company’s principal products include subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools.
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Source: defenseworld.net
