Dril-Quip with ticker code (DRQ) now have 5 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The range between the high target price and low target price is between 35 and 20 with the average target price sitting at 25.8. Given that the stocks previous close was at 25.24 this would imply there is a potential upside of 2.2%. The day 50 moving average is 22.86 and the 200 day moving average is 26.44. The market cap for the company is $884m. Company Website: https://www.dril-quip.com
The potential market cap would be $904m based on the market concensus.
Dril-Quip, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. The company’s principal products include subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools. It also provides technical advisory services, and rework and reconditioning services, as well as rental and purchase of running tools for use in the installation and retrieval of its products; and downhole tools comprise of liner hangers, production packers, safety valves, and specialty downhole tools that are used to hang-off and seal casing into a previously installed casing string in the well bore. The company’s products are used to explore for oil and gas from offshore drilling rigs, such as floating rigs and jack-up rigs; and for drilling and production of oil and gas wells on offshore platforms, tension leg platforms, and Spars, as well as moored vessels, such as floating production, storage, and offloading monohull moored vessels. It sells its products directly through its sales personnel, independent sales agents, and representatives to integrated, independent, and foreign national oil and gas companies, as well as drilling contractors, and engineering and construction companies. The company was founded in 1981 and is headquartered in Houston, Texas.
