BlueCrest Capital Management Ltd Purchases Shares of 70,000 Dril-Quip, Inc. (DRQ)

BlueCrest Capital Management Ltd purchased a new stake in Dril-Quip, Inc. (NYSE:DRQ) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 70,000 shares of the oil and gas company’s stock, valued at approximately $3,416,000. BlueCrest Capital Management Ltd owned about 0.18% of Dril-Quip as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DRQ. Great West Life Assurance Co. Can boosted its holdings in shares of Dril-Quip by 6.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,338 shares of the oil and gas company’s stock valued at $1,272,000 after purchasing an additional 1,405 shares during the last quarter. Comerica Bank boosted its holdings in shares of Dril-Quip by 4.6% in the 1st quarter. Comerica Bank now owns 32,500 shares of the oil and gas company’s stock valued at $1,719,000 after purchasing an additional 1,433 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Dril-Quip by 13.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 80,165 shares of the oil and gas company’s stock valued at $4,373,000 after purchasing an additional 9,325 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Dril-Quip by 4.8% in the 1st quarter. TD Asset Management Inc. now owns 8,700 shares of the oil and gas company’s stock valued at $475,000 after purchasing an additional 400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Dril-Quip by 2.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 109,598 shares of the oil and gas company’s stock valued at $5,979,000 after purchasing an additional 2,500 shares during the last quarter.

In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $43.49, for a total value of $86,980.00. Following the completion of the sale, the vice president now directly owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

WARNING: “BlueCrest Capital Management Ltd Purchases Shares of 70,000 Dril-Quip, Inc. (DRQ)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/09/bluecrest-capital-management-ltd-purchases-shares-of-70000-dril-quip-inc-drq.html.

A number of brokerages have weighed in on DRQ. Cowen and Company set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a report on Friday. BidaskClub lowered shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a report on Monday, July 31st. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.67.

Shares of Dril-Quip, Inc. (NYSE:DRQ) traded down 0.285% during trading on Monday, hitting $43.675. 35,818 shares of the stock were exchanged. Dril-Quip, Inc. has a 12-month low of $35.85 and a 12-month high of $69.40. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 81.180 and a beta of 0.69. The stock’s 50 day moving average is $41.08 and its 200-day moving average is $47.74.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by

Several other institutional investors and hedge funds also recently made changes to their positions in DRQ. Great West Life Assurance Co. Can boosted its holdings in shares of Dril-Quip by 6.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,338 shares of the oil and gas company’s stock valued at $1,272,000 after purchasing an additional 1,405 shares during the last quarter. Comerica Bank boosted its holdings in shares of Dril-Quip by 4.6% in the 1st quarter. Comerica Bank now owns 32,500 shares of the oil and gas company’s stock valued at $1,719,000 after purchasing an additional 1,433 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of Dril-Quip by 13.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 80,165 shares of the oil and gas company’s stock valued at $4,373,000 after purchasing an additional 9,325 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Dril-Quip by 4.8% in the 1st quarter. TD Asset Management Inc. now owns 8,700 shares of the oil and gas company’s stock valued at $475,000 after purchasing an additional 400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Dril-Quip by 2.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 109,598 shares of the oil and gas company’s stock valued at $5,979,000 after purchasing an additional 2,500 shares during the last quarter.

In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $43.49, for a total value of $86,980.00. Following the completion of the sale, the vice president now directly owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

WARNING: “BlueCrest Capital Management Ltd Purchases Shares of 70,000 Dril-Quip, Inc. (DRQ)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/09/bluecrest-capital-management-ltd-purchases-shares-of-70000-dril-quip-inc-drq.html.

A number of brokerages have weighed in on DRQ. Cowen and Company set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a report on Friday. BidaskClub lowered shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a report on Monday, July 31st. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.67.

Shares of Dril-Quip, Inc. (NYSE:DRQ) traded down 0.285% during trading on Monday, hitting $43.675. 35,818 shares of the stock were exchanged. Dril-Quip, Inc. has a 12-month low of $35.85 and a 12-month high of $69.40. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 81.180 and a beta of 0.69. The stock’s 50 day moving average is $41.08 and its 200-day moving average is $47.74.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company’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 firm posted $0.96 earnings per share. Equities research analysts anticipate that Dril-Quip, Inc. will post $0.11 EPS for the current year.

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.

Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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