ValuEngine downgraded shares of Dril-Quip (NYSE:DRQ) from a hold rating to a sell rating in a report issued on Wednesday.

A number of other research firms have also recently commented on DRQ. B. Riley reissued a buy rating and issued a $55.00 price target on shares of Dril-Quip in a report on Monday, March 26th. Zacks Investment Research cut Dril-Quip from a hold rating to a sell rating in a report on Wednesday, January 3rd. Piper Jaffray set a $40.00 price target on Dril-Quip and gave the stock a hold rating in a report on Thursday, March 8th. Cowen set a $45.00 price target on Dril-Quip and gave the stock a hold rating in a report on Thursday, January 11th. Finally, Capital One reissued an equal weight rating on shares of Dril-Quip in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $48.75.

NYSE DRQ opened at $44.55 on Wednesday. Dril-Quip has a 12 month low of $35.85 and a 12 month high of $56.55. The company has a market capitalization of $1,698.96, a P/E ratio of 222.75 and a beta of 0.76.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 EPS for the quarter, missing the Zacks’ 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 business had revenue of $107.97 million during the quarter, compared to analysts’ expectations of $99.73 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. analysts anticipate that Dril-Quip will post 0.06 earnings per share for the current year.

In other news, VP James C. Webster sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $43.99, for a total transaction of $87,980.00. Following the sale, the vice president now directly owns 33,994 shares of the company’s stock, valued at approximately $1,495,396.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey J. Bird sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $43.99, for a total value of $43,990.00. Following the sale, the chief financial officer now directly owns 21,878 shares in the company, valued at $962,413.22. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Dril-Quip by 0.9% during the 4th quarter. BlackRock Inc. now owns 4,136,205 shares of the oil and gas company’s stock worth $197,297,000 after acquiring an additional 36,073 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Dril-Quip by 5.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,249,154 shares of the oil and gas company’s stock worth $59,584,000 after acquiring an additional 61,171 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Dril-Quip by 8.4% during the 4th quarter. Macquarie Group Ltd. now owns 724,546 shares of the oil and gas company’s stock worth $34,561,000 after acquiring an additional 56,155 shares in the last quarter. Boston Partners raised its holdings in shares of Dril-Quip by 68.3% during the 4th quarter. Boston Partners now owns 617,025 shares of the oil and gas company’s stock worth $29,432,000 after acquiring an additional 250,480 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Dril-Quip by 72.9% during the 4th quarter. Deutsche Bank AG now owns 576,841 shares of the oil and gas company’s stock worth $27,513,000 after acquiring an additional 243,127 shares in the last quarter.

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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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Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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