State Street Corp raised its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 2.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,180,848 shares of the oil and gas company’s stock after buying an additional 31,362 shares during the period. State Street Corp owned about 3.12% of Dril-Quip worth $64,416,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tyers Asset Management LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock worth $106,000 after buying an additional 308 shares during the period. TrimTabs Asset Management LLC boosted its position in shares of Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock worth $109,000 after buying an additional 944 shares during the period. Flinton Capital Management LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock worth $134,000 after buying an additional 392 shares during the period. Neuburgh Advisers LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock worth $163,000 after buying an additional 476 shares during the period. Finally, Huntington National Bank boosted its position in shares of Dril-Quip by 87.8% in the first quarter. Huntington National Bank now owns 3,080 shares of the oil and gas company’s stock worth $168,000 after buying an additional 1,440 shares during the period.
Dril-Quip, Inc. (NYSE DRQ) traded down 0.50% on Monday, hitting $39.95. 462,129 shares of the stock were exchanged. Dril-Quip, Inc. has a one year low of $39.75 and a one year high of $69.40. The company has a market cap of $1.51 billion, a P/E ratio of 74.26 and a beta of 0.63. The company’s 50 day moving average price is $47.46 and its 200-day moving average price is $53.17.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $112.12 million. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The company’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Equities research analysts predict that Dril-Quip, Inc. will post $0.11 EPS for the current fiscal year.
A number of brokerages have weighed in on DRQ. BidaskClub cut shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research report on Thursday. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research report on Monday, July 31st. Cowen and Company reduced their price target 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. Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research report on Saturday, July 29th. Finally, Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average 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.
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