Macquarie Group Ltd. Boosts Position in Dril-Quip, Inc. (DRQ)

Macquarie Group Ltd. boosted its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 22.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 542,175 shares of the oil and gas company’s stock after purchasing an additional 97,760 shares during the quarter. Macquarie Group Ltd. owned about 1.43% of Dril-Quip worth $26,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Flinton Capital Management LLC grew its position in Dril-Quip by 64.8% in the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 1,596 shares during the period. AHL Partners LLP grew its position in Dril-Quip by 1.5% in the 2nd quarter. AHL Partners LLP now owns 39,044 shares of the oil and gas company’s stock valued at $1,905,000 after purchasing an additional 565 shares during the period. QS Investors LLC grew its position in Dril-Quip by 0.5% in the 2nd quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 13 shares during the period. Dimensional Fund Advisors LP grew its position in Dril-Quip by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock valued at $153,221,000 after purchasing an additional 684,559 shares during the period. Finally, Virtu KCG Holdings LLC grew its position in Dril-Quip by 71.1% in the 2nd quarter. Virtu KCG Holdings LLC now owns 15,324 shares of the oil and gas company’s stock valued at $748,000 after purchasing an additional 6,367 shares during the period.

Several analysts recently issued reports on DRQ shares. FBR & Co raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $55.00 in a research report on Tuesday. Cowen and Company set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Friday, October 6th. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Saturday, July 29th. Finally, BidaskClub raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $53.86.

COPYRIGHT VIOLATION WARNING: “Macquarie Group Ltd. Boosts Position in Dril-Quip, Inc. (DRQ)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/11/macquarie-group-ltd-boosts-position-in-dril-quip-inc-drq.html.

Dril-Quip, Inc. (DRQ) opened at 43.70 on Wednesday. Dril-Quip, Inc. has a 12-month low of $35.85 and a 12-month high of $69.40. The firm’s 50-day moving average is $41.43 and its 200-day moving average is $47.56. The stock has a market capitalization of $1.65 billion, a P/E ratio of 81.23 and a beta of 0.70.

Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $112.12 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was down 10.2% on a year-over-year basis. Analysts predict that Dril-Quip, Inc. will post $0.11 EPS for the current fiscal year.

In other news, VP James C. Webster sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total value of $86,980.00. Following 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 SEC, which is available at

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Flinton Capital Management LLC grew its position in Dril-Quip by 64.8% in the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 1,596 shares during the period. AHL Partners LLP grew its position in Dril-Quip by 1.5% in the 2nd quarter. AHL Partners LLP now owns 39,044 shares of the oil and gas company’s stock valued at $1,905,000 after purchasing an additional 565 shares during the period. QS Investors LLC grew its position in Dril-Quip by 0.5% in the 2nd quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 13 shares during the period. Dimensional Fund Advisors LP grew its position in Dril-Quip by 27.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock valued at $153,221,000 after purchasing an additional 684,559 shares during the period. Finally, Virtu KCG Holdings LLC grew its position in Dril-Quip by 71.1% in the 2nd quarter. Virtu KCG Holdings LLC now owns 15,324 shares of the oil and gas company’s stock valued at $748,000 after purchasing an additional 6,367 shares during the period.

Several analysts recently issued reports on DRQ shares. FBR & Co raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $55.00 in a research report on Tuesday. Cowen and Company set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Friday, October 6th. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a report on Saturday, July 29th. Finally, BidaskClub raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $53.86.

COPYRIGHT VIOLATION WARNING: “Macquarie Group Ltd. Boosts Position in Dril-Quip, Inc. (DRQ)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/11/macquarie-group-ltd-boosts-position-in-dril-quip-inc-drq.html.

Dril-Quip, Inc. (DRQ) opened at 43.70 on Wednesday. Dril-Quip, Inc. has a 12-month low of $35.85 and a 12-month high of $69.40. The firm’s 50-day moving average is $41.43 and its 200-day moving average is $47.56. The stock has a market capitalization of $1.65 billion, a P/E ratio of 81.23 and a beta of 0.70.

Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $112.12 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was down 10.2% on a year-over-year basis. Analysts predict that Dril-Quip, Inc. will post $0.11 EPS for the current fiscal year.

In other news, VP James C. Webster sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total value of $86,980.00. Following 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 SEC, which is available at this hyperlink. Corporate insiders own 0.87% of the company’s stock.

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

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