Dril-Quip, Inc. (NYSE:DRQ) had its target price lowered by Cowen and Company from $55.00 to $43.00 in a report released on Monday morning, MarketBeat.com reports. The brokerage currently has a market perform rating on the oil and gas company’s stock.

Several other equities analysts also recently weighed in on DRQ. Barclays PLC downgraded Dril-Quip from an overweight rating to an equal weight rating and cut their target price for the company from $77.00 to $57.00 in a research report on Monday, May 1st. Zacks Investment Research raised Dril-Quip from a sell rating to a hold rating in a research report on Tuesday, May 2nd. BidaskClub raised Dril-Quip from a sell rating to a hold rating in a research report on Tuesday, June 13th. Finally, Piper Jaffray Companies set a $43.00 target price on Dril-Quip and gave the company a hold rating in a research report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $56.00.

Dril-Quip (NYSE:DRQ) traded up 0.528% during mid-day trading on Monday, hitting $42.825. The stock had a trading volume of 165,578 shares. The stock’s 50-day moving average price is $49.45 and its 200-day moving average price is $54.17. Dril-Quip has a 12 month low of $42.35 and a 12 month high of $69.40. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 79.600 and a beta of 0.63.

Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.06. The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, analysts predict that Dril-Quip will post $0.15 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC increased its position in shares of Dril-Quip by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,515 shares of the oil and gas company’s stock valued at $355,000 after buying an additional 38 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Dril-Quip by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 35,235 shares of the oil and gas company’s stock valued at $1,922,000 after buying an additional 114 shares during the period. Advantus Capital Management Inc increased its position in shares of Dril-Quip by 3.6% in the first quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 170 shares during the period. Amalgamated Bank increased its position in shares of Dril-Quip by 3.0% in the first quarter. Amalgamated Bank now owns 5,989 shares of the oil and gas company’s stock valued at $327,000 after buying an additional 176 shares during the period. Finally, Commerce Bank increased its position in shares of Dril-Quip by 4.1% in the first quarter. Commerce Bank now owns 4,970 shares of the oil and gas company’s stock valued at $271,000 after buying an additional 195 shares during the period.

Dril-Quip Company Profile

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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