Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,220,250 shares of the oil and gas company’s stock after purchasing an additional 4,128 shares during the quarter. Dril-Quip comprises approximately 1.1% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 21st biggest position. Kayne Anderson Rudnick Investment Management LLC owned 5.87% of Dril-Quip worth $108,348,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Dril-Quip by 8,615.2% during the 1st quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock worth $195,368,000 after acquiring an additional 3,540,338 shares in the last quarter. UBS Group AG increased its position in Dril-Quip by 2.7% during the first quarter. UBS Group AG now owns 38,635 shares of the oil and gas company’s stock worth $2,108,000 after buying an additional 1,002 shares during the period. State Street Corp increased its position in Dril-Quip by 2.7% during the first quarter. State Street Corp now owns 1,180,848 shares of the oil and gas company’s stock worth $64,416,000 after buying an additional 31,362 shares during the period. American Century Companies Inc. increased its position in Dril-Quip by 0.5% during the second quarter. American Century Companies Inc. now owns 879,376 shares of the oil and gas company’s stock worth $42,914,000 after buying an additional 3,963 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Dril-Quip during the first quarter worth approximately $483,000.
Shares of Dril-Quip, Inc. (DRQ) opened at 43.60 on Tuesday. The stock has a market cap of $1.65 billion, a P/E ratio of 81.04 and a beta of 0.67. Dril-Quip, Inc. has a 52-week low of $35.85 and a 52-week high of $69.40. The firm’s 50-day moving average price is $40.10 and its 200-day moving average price is $48.72.
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 the Zacks’ 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 firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Dril-Quip, Inc. will post $0.11 earnings per share for the current fiscal year.
Several brokerages recently issued reports on DRQ. BidaskClub raised 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 objective on Dril-Quip and gave the stock a “hold” rating in a report on Saturday, July 29th. Scotiabank set a $61.00 price objective on Dril-Quip and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, Cowen and Company cut their price target on 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 given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.00.
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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