Dril-Quip, Inc. (NYSE:DRQ) Hits New 52-Week Low at $41.85

Dimensional Fund Advisors Lp reports that it bought 684,559 shares in quarter ending 06/30/2017 increasing its stake in Dril-Quip, Inc. (NYSE:DRQ) by 7.8% during the first quarter, according to its most recent disclosure with the SEC. The firm has "Market Perform" rating given on Wednesday, April 27 by Cowen & Co.

A number of equities analysts have recently weighed in on the company. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Dril-Quip by 0.5% in the second quarter. FMR has an ownership of 5,073,126 stocks of the oil and gas firms shares valued $276,739,000 after scooping up an extra 30,340 shares through out the previous quarter, BlackRock raised its stake in stocks of Dril-Quip by 17.9% in the Fiscal Q2. Acadian Asset Management LLC acquired a new position in Dril-Quip during the first quarter worth about $483,000.

ING Groep NV purchased a new position in shares of Dril-Quip, Inc. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company's stock worth $264,000 after buying an additional 170 shares during the period. Commerce Bank raised its stake in shares of Dril-Quip by 3.1% in the second quarter. Bank of Montreal Can now owns 22,424 shares of the oil and gas company's stock worth $1,223,000 after buying an additional 6,217 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Dril-Quip by 87.8% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the oil and gas company's stock worth $518,000 after buying an additional 200 shares in the last quarter.

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment.

Dril-Quip (DRQ) traded up 0.48% during midday trading on Thursday, reaching $41.60. Dril-Quip, Inc. has a 12-month low of $40.70 and a 12-month high of $69.40. The company has a market cap of $1.61 billion, a P/E ratio of 79.18 and a beta of 0.63. The stock has a 50-day moving average of $47.94 and a 200 day moving average of $53.41.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, July 28th. As of the latest earnings report the EPS was $0.54 and is estimated to be $0.10 for the current year with 37,838,000 shares presently outstanding. The company had revenue of $127.90 million during the quarter, compared to analysts' expectations of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company's revenue for the quarter was down 10.2% compared to the same quarter past year. During the same quarter in the prior year, the company earned $0.96 EPS. Capital One Financial Corporation also issued estimates for Dril-Quip's Q4 2017 earnings at ($0.05) EPS, FY2017 earnings at $0.05 EPS, Q1 2018 earnings at ($0.08) EPS, Q2 2018 earnings at ($0.10) EPS, Q3 2018 earnings at ($0.04) EPS, Q4 2018 earnings at $0.00 EPS and FY2018 earnings at ($0.22) EPS. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & global copyright law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/12/ing-groep-nv-takes-position-in-dril-quip-inc-drq.html. 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Zacks Investment Research upgraded Dril-Quip from a "sell" rating to a "hold" rating in a research report on Tuesday, May 2nd. Scotiabank set a $61.00 price target on Dril-Quip and gave the stock a "hold" rating in a report on Monday, July 31st. The company now has an average rating of "Hold" and an average target price of $56.00.

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