Dril-Quip, Inc. (NYSE:DRQ) Downgraded to Strong Sell at BidaskClub

Postado Agosto 13, 2017

ING Groep NV bought a new stake in shares of Dril-Quip, Inc. (NYSE:DRQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The brokerage presently has a "hold" recommendation on the oil and gas firms shares. Tyers Asset Management LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company's stock valued at $106,000 after buying an additional 308 shares during the last quarter. FMR LLC raised its position in Dril-Quip by 0.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,216,122 shares of the oil and gas company's stock valued at $120,889,000 after buying an additional 167,173 shares during the last quarter. BlackRock Inc. raised its position in Dril-Quip by 8,615.2% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company's stock valued at $134,000 after buying an additional 392 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Dril-Quip during the first quarter worth about $1,099,000. Bank of Montreal Can raised its stake in shares of Dril-Quip by 38.4% in the first quarter. Amalgamated Bank now owns 5,989 shares of the oil and gas company's stock worth $327,000 after buying an additional 176 shares during the last quarter.

Dril-Quip (NYSE DRQ) declined 1.160% through out intraday market trading on early Monday, reaching $40.475. The company's stock had a trading volume of 517,567 shares. Dril-Quip, Inc. has a 12-month low of $40.70 and a 12-month high of $69.40. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 77.32 and a beta of 0.63. It is now trading at $40.15 well below the 50 day moving average which is $47.71 and which is significantly below the 200 day moving average of $53.32.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data 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 company had revenue of $127.90 million for the quarter, compared to analysts' expectations of $112.12 million. BlackRock has an ownership of 4,221,751 stocks of the oil and gas firms shares valued $206,022,000 after scooping up an extra 640,319 shares through out the previous quarter, Vanguard Group raised its stake in stocks of Dril-Quip by 4.2% in the Q1. For the same quarter a year ago, firm posted $0.96 Earnings Per Share.

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Several other equities research analysts have also weighed in on DRQ. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a "hold" rating in a research report on Saturday, July 29th. Zacks Investment Research raised Dril-Quip from a "sell" rating to a "hold" rating in a report on Tuesday, May 2nd. Finally, Cowen and Company cut their price target on Dril-Quip from $55.00 to $43.00 and set a "market perform" rating on the stock in a report on Monday, July 31st. Scotiabank set a $61.00 target price on Dril-Quip and gave the stock a "hold" rating in a research note on Monday, July 31st. 1 investment expert has recommended the share with a sell recommendation, around seven have issued a hold recommendation and 1 have issued a buy recommendation to The corporation. The company now has an average rating of "Hold" and an average target price of $56.00.

Dril-Quip, Inc. designs, makes, sells and services engineered drilling and production equipment.