Oregon Public Employees Retirement Fund raised its stake in Dril-Quip, Inc. (NYSE:DRQ) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,827 shares of the oil and gas company’s stock after buying an additional 560 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Dril-Quip were worth $675,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. UBS Group AG increased its position in Dril-Quip by 2.7% in the first quarter. UBS Group AG now owns 38,635 shares of the oil and gas company’s stock valued at $2,108,000 after buying an additional 1,002 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Dril-Quip during the first quarter valued at approximately $483,000. Liberty Mutual Group Asset Management Inc. increased its position in Dril-Quip by 11.7% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 16,829 shares of the oil and gas company’s stock valued at $918,000 after buying an additional 1,769 shares during the last quarter. BlackRock Inc. increased its position in Dril-Quip by 8,615.2% in the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after buying an additional 3,540,338 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Dril-Quip during the first quarter valued at approximately $1,099,000.
Shares of Dril-Quip, Inc. (NYSE:DRQ) traded down 0.23% during midday trading on Monday, hitting $42.50. The stock had a trading volume of 109,229 shares. Dril-Quip, Inc. has a 1-year low of $42.00 and a 1-year high of $69.40. The company’s 50 day moving average price is $49.45 and its 200-day moving average price is $54.17. The firm has a market capitalization of $1.61 billion, a PE ratio of 79.00 and a beta of 0.63.
Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. Dril-Quip’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. Equities analysts predict that Dril-Quip, Inc. will post $0.15 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://stocknewstimes.com/2017/08/07/oregon-public-employees-retirement-fund-has-675000-stake-in-dril-quip-inc-nysedrq.html.
DRQ has been the topic of several analyst reports. Cowen and Company lowered their target price 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 shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $77.00 to $57.00 in a research report on Monday, May 1st. BidaskClub downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Scotiabank set a $61.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.00.
About Dril-Quip
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
Want to see what other hedge funds are holding DRQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dril-Quip, Inc. (NYSE:DRQ).
Receive News & Ratings for Dril-Quip Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
