Brokerages Set Dril-Quip, Inc. (DRQ) Price Target at $48.80

Shares of Dril-Quip, Inc. (NYSE:DRQ) have earned a consensus rating of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $48.80.

DRQ has been the topic of a number of recent research reports. Cowen set a $43.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a report on Friday, October 6th. Zacks Investment Research cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Gabelli initiated coverage on shares of Dril-Quip in a research note on Friday, October 20th. They issued a “hold” rating and a $43.00 price objective on the stock. ValuEngine cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $38.00 price objective on shares of Dril-Quip in a research note on Friday, November 10th.

In other Dril-Quip news, insider Blake T. Deberry sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total value of $446,600.00. Following the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in shares of Dril-Quip by 49.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 251,082 shares of the oil and gas company’s stock worth $12,253,000 after purchasing an additional 83,308 shares during the period. Swiss National Bank grew its stake in shares of Dril-Quip by 2.6% during the 2nd quarter. Swiss National Bank now owns 63,400 shares of the oil and gas company’s stock worth $3,094,000 after purchasing an additional 1,600 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Dril-Quip by 66.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 1,063 shares during the period. Teachers Advisors LLC grew its stake in shares of Dril-Quip by 11.6% during the 2nd quarter. Teachers Advisors LLC now owns 233,550 shares of the oil and gas company’s stock worth $11,397,000 after purchasing an additional 24,346 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Dril-Quip by 17.9% during the 2nd 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 during the period.

Shares of Dril-Quip (NYSE:DRQ) traded down $2.05 during trading on Friday, hitting $50.00. 305,565 shares of the stock were exchanged, compared to its average volume of 438,095. The firm has a market cap of $1,970.64, a PE ratio of -66.67 and a beta of 0.72. Dril-Quip has a fifty-two week low of $35.85 and a fifty-two week high of $67.95.

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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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