Cowen set a $45.00 target price on Dril-Quip (NYSE:DRQ) in a research note published on Thursday. The brokerage currently has a hold rating on the oil and gas company’s stock.

Several other research analysts have also weighed in on DRQ. B. Riley reaffirmed a buy rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Zacks Investment Research lowered shares of Dril-Quip from a hold rating to a sell rating in a research note on Wednesday, January 3rd. ValuEngine lowered shares of Dril-Quip from a hold rating to a sell rating in a research note on Sunday, December 31st. FBR & Co raised shares of Dril-Quip from a neutral rating to a buy rating and increased their target price for the stock from $49.00 to $55.00 in a research note on Tuesday, October 10th. Finally, Wolfe Research raised shares of Dril-Quip from an underperform rating to a market perform rating in a research note on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $49.43.

Shares of Dril-Quip (NYSE:DRQ) traded up $0.70 on Thursday, hitting $56.35. 478,699 shares of the company were exchanged, compared to its average volume of 649,544. Dril-Quip has a 12-month low of $35.85 and a 12-month high of $67.95. The stock has a market capitalization of $2,130.00, a price-to-earnings ratio of -76.15 and a beta of 0.74.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The firm had revenue of $100.35 million during the quarter, compared to analyst estimates of $106.74 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Dril-Quip’s quarterly revenue was down 18.8% on a year-over-year basis. sell-side analysts expect that Dril-Quip will post 0.21 EPS for the current fiscal year.

In other news, VP James C. Webster sold 4,890 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $41.49, for a total transaction of $202,886.10. Following the sale, the vice president now owns 34,947 shares of the company’s stock, valued at $1,449,951.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey J. Bird sold 1,931 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $80,117.19. Following the sale, the chief financial officer now directly owns 24,719 shares in the company, valued at approximately $1,025,591.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,662 shares of company stock valued at $1,927,019. 0.87% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of DRQ. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Dril-Quip by 41.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,147,783 shares of the oil and gas company’s stock worth $138,975,000 after purchasing an additional 927,533 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Dril-Quip by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock worth $153,221,000 after purchasing an additional 684,559 shares in the last quarter. BlackRock Inc. lifted its position in shares of Dril-Quip by 17.9% during the second quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock worth $206,022,000 after purchasing an additional 640,319 shares in the last quarter. Northern Trust Corp lifted its position in shares of Dril-Quip by 119.7% during the second quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock worth $50,851,000 after purchasing an additional 567,821 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Dril-Quip by 269.0% during the second quarter. Janus Henderson Group PLC now owns 637,160 shares of the oil and gas company’s stock worth $31,093,000 after purchasing an additional 464,501 shares in the last quarter.

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About Dril-Quip

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.

Analyst Recommendations for Dril-Quip (NYSE:DRQ)

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