Dril-Quip Inc. (NYSE:DRQ) shares traded down 1.1% during trading on Monday . The company traded as low as $56.49 and last traded at $56.54, with a volume of 129,152 shares traded. The stock had previously closed at $57.15.

A number of research analysts recently commented on the company. Simmons downgraded Dril-Quip from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $58.00 to $50.00 in a research note on Thursday, April 28th. Piper Jaffray Cos. downgraded Dril-Quip from an “overweight” rating to a “neutral” rating in a research note on Thursday, April 28th. Barclays PLC upgraded Dril-Quip from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $56.00 to $66.00 in a research note on Wednesday, April 20th. JPMorgan Chase & Co. assumed coverage on Dril-Quip in a research note on Wednesday, June 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Howard Weil lowered their price objective on Dril-Quip to $62.00 in a research note on Monday, March 28th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $64.87.

The company has a market capitalization of $2.15 billion and a price-to-earnings ratio of 12.37. The company’s 50 day moving average is $60.05 and its 200 day moving average is $58.14.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Tuesday, April 26th. The company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.14. The company had revenue of $166.60 million for the quarter, compared to the consensus estimate of $167.40 million. During the same quarter last year, the business earned $1.38 EPS. Dril-Quip’s quarterly revenue was down 26.3% compared to the same quarter last year. On average, analysts anticipate that Dril-Quip Inc. will post $2.59 EPS for the current year.

A number of institutional investors have modified their holdings of DRQ. Morgan Stanley increased its position in shares of Dril-Quip by 42.3% in the fourth quarter. Morgan Stanley now owns 38,415 shares of the company’s stock valued at $2,275,000 after buying an additional 11,412 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in shares of Dril-Quip by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 24,943 shares of the company’s stock valued at $1,477,000 after buying an additional 8,464 shares during the last quarter. Boston Partners acquired a new position in shares of Dril-Quip during the fourth quarter valued at about $9,199,000. Old Mutual Global Investors UK Ltd. increased its position in shares of Dril-Quip by 41.2% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 193,006 shares of the company’s stock valued at $11,431,000 after buying an additional 56,302 shares during the last quarter. Finally, Energy Opportunities Capital Management LLC increased its position in shares of Dril-Quip by 38.5% in the fourth quarter. Energy Opportunities Capital Management LLC now owns 218,807 shares of the company’s stock valued at $12,960,000 after buying an additional 60,795 shares during the last quarter.

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered offshore drilling and production equipment. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters.

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