Dril-Quip, Inc. (NYSE:DRQ) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.10.
A number of equities research analysts recently weighed in on the stock. Gabelli lowered shares of Dril-Quip from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Tuesday, May 12th. Morgan Stanley raised shares of Dril-Quip from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $42.00 to $35.00 in a research note on Monday, March 16th. Cowen dropped their price objective on Dril-Quip from $32.00 to $29.00 and set a “market perform” rating on the stock in a research note on Friday, May 8th. B. Riley reduced their price objective on Dril-Quip from $45.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Finally, TheStreet cut Dril-Quip from a “c-” rating to a “d+” rating in a report on Thursday, March 5th.
Shares of DRQ stock traded down $0.95 on Friday, reaching $29.05. 416,879 shares of the company’s stock were exchanged, compared to its average volume of 330,413. The company’s fifty day simple moving average is $29.95 and its 200 day simple moving average is $36.63. Dril-Quip has a 52 week low of $23.91 and a 52 week high of $56.71. The stock has a market capitalization of $1.05 billion, a PE ratio of 176.47 and a beta of 1.34.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Channing Capital Management LLC purchased a new position in shares of Dril-Quip in the 1st quarter worth approximately $13,983,000. Norges Bank acquired a new stake in Dril-Quip in the fourth quarter valued at approximately $16,764,000. STA Wealth Management LLC purchased a new position in Dril-Quip in the first quarter worth $9,179,000. Investment Counselors of Maryland LLC grew its holdings in Dril-Quip by 56.0% in the fourth quarter. Investment Counselors of Maryland LLC now owns 534,808 shares of the oil and gas company’s stock worth $25,088,000 after purchasing an additional 192,016 shares during the last quarter. Finally, State Street Corp increased its position in shares of Dril-Quip by 10.4% during the fourth quarter. State Street Corp now owns 1,292,159 shares of the oil and gas company’s stock worth $60,615,000 after purchasing an additional 122,086 shares in the last quarter.
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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