Dril-Quip, Inc. (NYSE:DRQ) insider Blake T. Deberry sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the transaction, the insider now owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Dril-Quip, Inc. (NYSE:DRQ) traded up $0.30 on Friday, reaching $44.80. 295,759 shares of the company traded hands, compared to its average volume of 569,495. Dril-Quip, Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $69.40. The firm has a market capitalization of $1,700.00, a PE ratio of 106.55 and a beta of 0.68.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The business had revenue of $100.35 million during the quarter, compared to analysts’ expectations of $106.74 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue was down 18.8% on a year-over-year basis. equities research analysts forecast that Dril-Quip, Inc. will post 0.18 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in DRQ. BlackRock Inc. boosted its holdings in Dril-Quip by 8,615.2% during the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock worth $195,368,000 after purchasing an additional 3,540,338 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Dril-Quip by 41.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,147,783 shares of the oil and gas company’s stock worth $138,975,000 after purchasing an additional 927,533 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Dril-Quip by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock worth $153,221,000 after purchasing an additional 684,559 shares during the last quarter. Northern Trust Corp boosted its holdings in Dril-Quip by 119.7% during the second quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock worth $50,851,000 after purchasing an additional 567,821 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Dril-Quip by 269.0% during the second quarter. Janus Henderson Group PLC now owns 637,160 shares of the oil and gas company’s stock worth $31,093,000 after purchasing an additional 464,501 shares during the last quarter.
Several research firms have recently weighed in on DRQ. B. Riley reiterated a “buy” rating on shares of Dril-Quip in a report on Wednesday, November 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $38.00 price target on shares of Dril-Quip in a report on Friday, November 10th. Zacks Investment Research cut shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Wolfe Research upgraded shares of Dril-Quip from an “underperform” rating to a “market perform” rating in a report on Tuesday, October 31st. Finally, FBR & Co upgraded shares of Dril-Quip from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $55.00 in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.57.
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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