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

Xavier Trudeau
Août 13, 2017

(NYSE:DRQ) during the second quarter, Holdings Channel reports.

Other hedge funds have also modified their holdings of the company. Finally, Louisiana State Employees Retirement System raised its stake in shares of Dril-Quip by 2.2% in the first quarter. UBS Asset Management Americas Inc. now owns 70,840 shares of the oil and gas company's stock worth $4,253,000 after buying an additional 18,059 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in Dril-Quip by 89.1% 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. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company's stock valued at $383,000 after buying an additional 33 shares during the period. Huntington National Bank now owns 3,080 shares of the oil and gas company's stock worth $168,000 after buying an additional 1,440 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its position in Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company's stock valued at $163,000 after buying an additional 476 shares during the last quarter. On average, analysts forecast that Dril-Quip, Inc. will post $0.10 EPS for the current fiscal year.

Dril-Quip (DRQ) traded down 1.95% during trading on Thursday, reaching $40.15.

The company is trading down by -2.01% since yesterday's close of $40.975. The company has market cap of $1.57 billion.

The stock has a 50 day moving average price of $47.94 and a 200 day moving average price of $53.41.

(NYSE:DRQ) news were published by: Nasdaq.com which released: "Dril-Quip Stock Getting Very Oversold" on July 31, 2017. The oil and gas company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.03 by $0.06. The business had revenue of $127.90 million during the quarter, compared to analyst estimates 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. Company's periodic earnings was down 10.2% on a YOY basis. During the same quarter in the prior year, the company posted $0.96 EPS.

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. "(DRQ)" was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another website, it was copied illegally and reposted in violation of USA and global copyright legislation. The correct version of this piece of content can be viewed at https://theolympiareport.com/2017/08/12/dril-quip-inc-drq-downgraded-to-strong-sell-at-bidaskclub.html.

A number of equities analysts recently commented on the stock.

ING Groep NV bought a new stake in shares of Dril-Quip, Inc. 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. Cowen and Company lowered their price objective on shares of Dril-Quip from $55.00 to $43.00 and set a market perform rating on the stock in a research report on Monday, July 31st. Barclays PLC downgraded Dril-Quip from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $77.00 to $57.00 in a research report on Monday, May 1st. Zacks Investment Research upgraded shares of Dril-Quip from a sell rating to a hold rating in a research report on Tuesday, May 2nd. 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.

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