Nordea Investment Management AB Buys 18,739 Shares of Dril-Quip, Inc. (DRQ)

Nordea Investment Management AB raised its stake in Dril-Quip, Inc. (NYSE:DRQ) by 51.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 54,931 shares of the oil and gas company’s stock after buying an additional 18,739 shares during the quarter. Nordea Investment Management AB owned approximately 0.15% of Dril-Quip worth $2,425,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its stake in Dril-Quip by 66.4% in the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,063 shares during the last quarter. QS Investors LLC lifted its stake in Dril-Quip by 0.5% in the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 13 shares during the last quarter. LS Investment Advisors LLC lifted its stake in Dril-Quip by 17.6% in the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 450 shares during the last quarter. Quantbot Technologies LP bought a new stake in Dril-Quip in the third quarter valued at $136,000. Finally, Flinton Capital Management LLC lifted its stake in Dril-Quip by 64.8% in the second quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 1,596 shares during the last quarter.

A number of equities research analysts have issued reports on DRQ shares. B. Riley reiterated a “buy” rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, November 1st. FBR & Co upgraded Dril-Quip from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $55.00 in a research note on Tuesday, October 10th. TheStreet cut Dril-Quip from a “c” rating to a “d+” rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $38.00 target price on shares of Dril-Quip in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $48.57.

Dril-Quip, Inc. (DRQ) opened at $48.75 on Tuesday. The company has a market capitalization of $1,853.27, a price-to-earnings ratio of 116.55 and a beta of 0.73. Dril-Quip, Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $69.40.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. research analysts anticipate that Dril-Quip, Inc. will post 0.18 EPS for the current fiscal year.

In other news, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total transaction of $86,980.00. Following the transaction, the vice president now directly owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total value of $446,600.00. Following the transaction, the insider now directly owns 126,208 shares in the company, valued at $5,636,449.28. The disclosure for this sale can be found here. Insiders have sold 47,662 shares of company stock worth $2,013,999 over the last three months. Corporate insiders own 0.87% of the company’s stock.

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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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