Oregon Public Employees Retirement Fund boosted its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 4.2% during the second quarter, according to its most recent 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 also recently bought and sold shares of the company. UBS Asset Management Americas Inc. increased its position in Dril-Quip by 34.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 70,840 shares of the oil and gas company’s stock worth $4,253,000 after buying an additional 18,059 shares in the last quarter. Bank of Montreal Can increased its position in Dril-Quip by 38.4% in the first quarter. Bank of Montreal Can now owns 22,424 shares of the oil and gas company’s stock worth $1,223,000 after buying an additional 6,217 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Dril-Quip by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the oil and gas company’s stock worth $518,000 after buying an additional 200 shares in the last quarter. Legato Capital Management LLC increased its position in Dril-Quip by 5,354.9% in the first quarter. Legato Capital Management LLC now owns 23,947 shares of the oil and gas company’s stock worth $439,000 after buying an additional 23,508 shares in the last quarter. Finally, Huntington National Bank raised its stake in 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 valued at $168,000 after buying an additional 1,440 shares during the last quarter.
Shares of Dril-Quip, Inc. (NYSE DRQ) traded down 1.05% during mid-day trading on Thursday, reaching $37.75. 126,291 shares of the company traded hands. The stock has a market capitalization of $1.43 billion, a PE ratio of 70.17 and a beta of 0.63. The stock’s 50 day moving average is $46.63 and its 200 day moving average is $52.58. Dril-Quip, Inc. has a 52-week low of $37.55 and a 52-week high of $69.40.
Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. During the same quarter in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, analysts anticipate that Dril-Quip, Inc. will post $0.12 earnings per share for the current year.
DRQ has been the subject of several recent research reports. Barclays PLC lowered shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $77.00 to $57.00 in a research report on Monday, May 1st. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a report on Saturday, July 29th. Finally, Cowen and Company decreased their price objective on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $56.00.
Dril-Quip Company Profile
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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