Dril-Quip, Inc. (NYSE:DRQ) Hits New 52-Week Low at $41.85

Cornelia Mascio
Agosto 13, 2017

(NYSE:DRQ) during the second quarter, Holdings Channel reports.

DRQ has been the topic of several other research reports. Advantus Capital Management Inc raised its stake in shares of Dril-Quip by 3.6% in the first quarter. 517,567 shares of the stock were exchanged. Advantus Capital Management Inc increased its position in Dril-Quip by 3.6% in the first quarter. NY now owns 35,235 shares of the oil and gas company's stock worth $1,922,000 after buying an additional 114 shares during the period. Bank of Montreal Can raised its stake in shares of Dril-Quip by 38.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 16,829 shares of the oil and gas company's stock worth $918,000 after buying an additional 1,769 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Dril-Quip by 87.8% in the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company's stock worth $195,368,000 after buying an additional 3,540,338 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its position in Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company's stock worth $163,000 after buying an additional 476 shares in the last quarter. Blackrock Institutional Com Na holds 0.01% in Dril-Quip, Inc. Dimensional Fund Advisors LP now owns 2,455,193 shares of the oil and gas company's stock valued at $133,929,000 after buying an additional 587,520 shares during the last quarter. The stock has a market cap of $1.55 billion, a P/E ratio of 76.12 and a beta of 0.63. Shares last traded at $40.95 which is significantly below $47.94, the stock's 50 day moving average and quite a bit below the 200 day moving average of $53.41.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, July 28th. As of the last earnings report the EPS was $0.54 and is projected to be $0.10 for the current year with 37,838,000 shares outstanding. 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 previous year. During the same period in the prior year, the firm posted $0.96 earnings per share.

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Large investors have recently modified their holdings of the stock.

ING Groep NV bought a new stake in shares of Dril-Quip, Inc. Also Nasdaq.com published the news titled: "Dril-Quip Reaches Analyst Target Price" on July 28, 2017. Cowen and Company lowered their target price on Dril-Quip from $55.00 to $43.00 and set a "market perform" rating on the stock in a research note on Monday, July 31st. Barclays PLC downgraded Dril-Quip from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $77.00 to $57.00 in a research report on Monday, May 1st. Zacks Investment Research upgraded Dril-Quip from a "sell" rating to a "hold" rating in a research report on Tuesday, May 2nd. Piper Jaffray Companies fixed a $43.00 price objective on the stock of Dril-Quip and issued the company a "hold" recommendation in a analysis note on Saturday, Jul 29th. The Business'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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