Dril-Quip, Inc. (NYSE:DRQ) – Equities researchers at Gabelli decreased their FY2020 earnings per share (EPS) estimates for shares of Dril-Quip in a report released on Monday. Gabelli analyst S. Wong now expects that the oil and gas company will earn $1.50 per share for the year, down from their prior estimate of $1.60. Gabelli has a “Hold” rating and a $43.00 price target on the stock. Gabelli also issued estimates for Dril-Quip’s FY2021 earnings at $2.45 EPS.
Other equities analysts have also issued reports about the company. B. Riley reissued a “buy” rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Zacks Investment Research raised Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, November 1st. FBR & Co reissued a “buy” rating on shares of Dril-Quip in a research note on Friday, October 27th. TheStreet lowered Dril-Quip from a “c” rating to a “d+” rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $38.00 price target on shares of Dril-Quip in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.57.
Shares of Dril-Quip (NYSE:DRQ) traded up $0.70 on Wednesday, reaching $44.75. The company’s stock had a trading volume of 633,805 shares, compared to its average volume of 564,000. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $69.40. The firm has a market capitalization of $1,743.48, a price-to-earnings ratio of 109.64 and a beta of 0.73.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The firm had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down 18.8% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC grew its holdings in Dril-Quip by 66.4% during the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after buying an additional 1,063 shares in the last quarter. Quantbot Technologies LP bought a new stake in Dril-Quip during the third quarter worth $136,000. QS Investors LLC grew its holdings in Dril-Quip by 0.5% during the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after buying an additional 13 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Dril-Quip by 17.6% during the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after buying an additional 450 shares in the last quarter. Finally, Flinton Capital Management LLC grew its holdings in Dril-Quip by 64.8% during the second quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock worth $198,000 after buying an additional 1,596 shares in the last quarter.
In other news, VP James C. Webster sold 4,890 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $202,886.10. Following the transaction, the vice president now directly owns 34,947 shares of the company’s stock, valued at $1,449,951.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Blake T. Deberry sold 14,819 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $614,840.31. Following the transaction, the insider now directly owns 113,175 shares in the company, valued at $4,695,630.75. The disclosure for this sale can be found here. Insiders have sold 47,662 shares of company stock worth $2,013,999 over the last ninety days. 0.87% of the stock is owned by insiders.
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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.
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