November 30, 2016 - By Richard Conner · 0 Comments
Dril-quip Inc (NYSE:DRQ) institutional sentiment increased to 1.24 in 2016 Q2. Its up 0.09, from 1.15 in 2016Q1. The ratio is positive, as 128 hedge funds increased or opened new equity positions, while 111 decreased and sold their stock positions in Dril-quip Inc. The hedge funds in our partner’s database now own: 39.08 million shares, down from 39.52 million shares in 2016Q1. Also, the number of hedge funds holding Dril-quip Inc in their top 10 equity positions decreased from 4 to 3 for a decrease of 1. Sold All: 29 Reduced: 82 Increased: 98 New Position: 30.
Dril-Quip, Inc. designs, makes, sells and services engineered offshore drilling and production equipment. The company has a market cap of $2.12 billion. 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. It has a 15.27 P/E ratio. The Company’s activities are organized into three geographic divisions-Western Hemisphere, including North and South America; Eastern Hemisphere, including Europe and Africa, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East.
About 355,424 shares traded hands. Dril-Quip, Inc. (NYSE:DRQ) has declined 13.98% since April 27, 2016 and is downtrending. It has underperformed by 19.21% the S&P500.
Analysts await Dril-Quip, Inc. (NYSE:DRQ) to report earnings on February, 23. They expect $0.28 earnings per share, down 76.67% or $0.92 from last year’s $1.2 per share. DRQ’s profit will be $10.45 million for 50.71 P/E if the $0.28 EPS becomes a reality. After $0.39 actual earnings per share reported by Dril-Quip, Inc. for the previous quarter, Wall Street now forecasts -28.21% negative EPS growth.
According to Zacks Investment Research, “Dril-Quip, Inc. is a manufacturers of highly engineered offshore drilling and production equipment which is well suited for use in deepwater, harsh environment and severe service applications. They design and manufacture subsea equipment, surface equipment and offshore rig equipment for use by major integrated, large independent and foreign national oil and gas companies in offshore areas throughout the world. Their principal products consist of subsea and surface wellheads and production trees, mudline hanger systems, specialty connectors and associated pipe.”
Texan Capital Management holds 4.02% of its portfolio in Dril-Quip, Inc. for 150,000 shares. Energy Opportunities Capital Management Llc owns 216,861 shares or 3.82% of their US portfolio. Moreover, Birch Run Capital Advisors Lp has 2.89% invested in the company for 124,600 shares. The Minnesota-based Speece Thorson Capital Group Inc has invested 2.65% in the stock. Springbank Value Partners Lp, a New York-based fund reported 24,900 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 2 sales for $842,752 net activity.
Ratings analysis reveals 17% of Dril Quip’s analysts are positive. Out of 12 Wall Street analysts rating Dril Quip, 2 give it “Buy”, 0 “Sell” rating, while 10 recommend “Hold”. The lowest target is $48 while the high is $82. The stock’s average target of $65.40 is 15.14% above today’s ($56.8) share price. DRQ was included in 26 notes of analysts from July 31, 2015. The firm has “Neutral” rating given on Wednesday, February 24 by Suntrust Robinson. The stock has “Sector Perform” rating given by Howard Weil on Friday, July 29. Morgan Stanley maintained Dril-Quip, Inc. (NYSE:DRQ) on Tuesday, April 19 with “Equal-Weight” rating. The firm has “Market Perform” rating given on Friday, July 31 by Cowen & Co. The rating was downgraded by Howard Weil on Monday, December 14 to “Sector Perform”. The rating was downgraded by Bank of America to “Neutral” on Friday, July 31. Barclays Capital upgraded Dril-Quip, Inc. (NYSE:DRQ) on Wednesday, April 20 to “Equal-Weight” rating. The rating was initiated by KLR Group with “Accumulate” on Monday, December 14. Cowen & Co maintained it with “Market Perform” rating and $61 target price in Monday, November 2 report. The stock of Dril-Quip, Inc. (NYSE:DRQ) has “Buy” rating given on Tuesday, August 4 by Johnson Rice.
Dril-Quip, Inc. (Dril-Quip), incorporated on August 12, 1997, designs, makes, sells and services engineered offshore drilling and production equipment. The Company’s equipment is suited for use in deepwater, a range of environments and a range of service applications. 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. The Company’s activities are organized into three geographic divisions-Western Hemisphere, including North and South America; Eastern Hemisphere, including Europe and Africa, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East. The Firm has manufacturing facilities in approximately three of its headquarter locations, as well as in Macae, Brazil. The Firm also has additional facilities for fabrication, reconditioning and rework in Australia, Norway, Denmark, Nigeria, China, Egypt, Ghana and Qatar.
More notable recent Dril-Quip, Inc. (NYSE:DRQ) news were published by: Marketwatch.com which released: “Dril-Quip stock price target raised to $66 from $56 at Barclays” on December 21, 2009, also Prnewswire.com with their article: “Dril-Quip, Inc. Announces Results For Third Quarter 2016” published on October 27, 2016, Prnewswire.com published: “Dril-Quip, Inc. to Present at Bank of America Merrill Lynch 2016 Global Energy …” on October 01, 2010. More interesting news about Dril-Quip, Inc. (NYSE:DRQ) were released by: Prnewswire.com and their article: “Dril-Quip, Inc. To Present At J.P. Morgan Inaugural Energy Equity Conference” published on June 24, 2016 as well as Prnewswire.com‘s news article titled: “Dril-Quip Announces Results For 2nd Quarter 2016 And Stock Repurchase Program” with publication date: July 29, 2016.
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By Richard Conner