Dril-Quip (DRQ) Stock Forecast, Price & News

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Dril-Quip in the last twelve months. There are currently 1 sell rating for the stock. The consensus among Wall Street equities research analysts is that investors should "sell" DRQ shares.
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1 analysts have issued 1 year price targets for Dril-Quip's shares. Their DRQ share price forecasts range from $26.00 to $26.00. On average, they predict the company's share price to reach $26.00 in the next year. This suggests that the stock has a possible downside of 10.8%.
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Dril-Quip's stock was trading at $27.17 on January 1st, 2023. Since then, DRQ shares have increased by 7.3% and is now trading at $29.15.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
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Dril-Quip, Inc. (NYSE:DRQ) announced its earnings results on Monday, July, 31st. The oil and gas company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.04 by $0.07. The oil and gas company had revenue of $89.60 million for the quarter, compared to analysts' expectations of $96.89 million. Dril-Quip had a net margin of 5.68% and a trailing twelve-month return on equity of 0.26%. The business's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share.

ETFs with the largest weight of Dril-Quip (NYSE:DRQ) stock in their portfolio include Invesco S&P SmallCap Energy ETF (PSCE), SPDR S&P Oil & Gas Equipment & Services ETF (XES), VanEck Oil Services ETF (OIH) and iShares U.S. Oil Equipment & Services ETF (IEZ).Direxion Daily Oil Services Bull 2X Shares (ONG).

Dril-Quip declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 23rd 2022, which permits the company to repurchase $100,000,000.00 in shares, according to EventVestor. This repurchase authorization permits the company to repurchase up to 11.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Dril-Quip updated its FY 2023 earnings guidance on Tuesday, August, 1st. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $434.48 million-$434.48 million, compared to the consensus revenue estimate of $390.50 million.

65 employees have rated Dril-Quip Chief Executive Officer Blake T. DeBerry on Glassdoor.com. Blake T. DeBerry has an approval rating of 67% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Dril-Quip investors own include Helmerich & Payne (HP), Carnival Co. & (CCL), Gilead Sciences (GILD), Marathon Petroleum (MPC), NOV (NOV), Visa (V), Verizon Communications (VZ), Exxon Mobil (XOM), AbbVie (ABBV) and Alibaba Group (BABA).

Dril-Quip trades on the New York Stock Exchange (NYSE) under the ticker symbol "DRQ."

Dril-Quip's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (16.15%), Gamco Investors INC. ET AL (5.73%), Gamco Investors INC. ET AL (5.72%), Dimensional Fund Advisors LP (5.72%), Kayne Anderson Rudnick Investment Management LLC (5.36%) and State Street Corp (4.03%). Insiders that own company stock include A P Shukis, Blake T Deberry, Donald M Underwood, James C Webster, Jeffrey J Bird, John Lovoi, Kyle Mcclure, Raj Kumar and Terence Bartlett Jupp.
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Shares of DRQ stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of DRQ stock can currently be purchased for approximately $29.15.

Dril-Quip (NYSE:DRQ) has a market capitalization of $996.06 million and generates $362.07 million in revenue each year. The oil and gas company earns $440,000.00 in net income (profit) each year or $0.60 on an earnings per share basis.

The company employs 1,356 workers across the globe.

Dril-Quip's mailing address is 6401 N. ELDRIDGE PARKWAY, HOUSTON TX, 77041. The official website for the company is www.dril-quip.com. The oil and gas company can be reached via phone at (713) 939-7711, via email at erin_fazio@dril-quip.com, or via fax at 713-939-8060.