Nordea Investment Management AB grew its position in Dril-Quip, Inc. (NYSE:DRQ) by 51.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,931 shares of the oil and gas company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Riverhead Capital Management LLC boosted its position in shares of Dril-Quip by 66.4% during the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 1,063 shares during the last quarter. Quantbot Technologies LP bought a new position in Dril-Quip during the third quarter valued at $136,000. QS Investors LLC lifted its position in Dril-Quip by 0.5% during the second 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 last quarter. LS Investment Advisors LLC lifted its position in Dril-Quip by 17.6% during 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 purchasing an additional 450 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its position in Dril-Quip by 64.8% during 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 purchasing an additional 1,596 shares during the last quarter.
In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the firm’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 transaction of $86,980.00. Following the completion of the transaction, the vice president now directly owns 24,104 shares of the company’s stock, valued at approximately $1,048,282.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $44.66, for a total transaction of $446,600.00. Following the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at $5,636,449.28. The disclosure for this sale can be found here. Insiders sold a total of 47,662 shares of company stock valued at $2,013,999 over the last quarter. 0.87% of the stock is owned by company insiders.
Dril-Quip, Inc. (NYSE DRQ) traded down $0.15 during trading hours on Thursday, hitting $45.45. 477,400 shares of the stock were exchanged, compared to its average volume of 561,573. Dril-Quip, Inc. has a twelve month low of $35.85 and a twelve month high of $67.95. The company has a market cap of $1,726.44, a PE ratio of 108.57 and a beta of 0.73.
Dril-Quip (NYSE:DRQ) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $100.35 million for the quarter, compared to analysts’ expectations of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The company’s revenue was down 18.8% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. sell-side analysts predict that Dril-Quip, Inc. will post 0.2 earnings per share for the current year.
DRQ has been the subject of several research reports. B. Riley reiterated a “buy” rating on shares of Dril-Quip in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of 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 raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $55.00 in a research note on Tuesday, October 10th. TheStreet downgraded shares of Dril-Quip from a “c” rating to a “d+” rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $38.00 price target on shares of Dril-Quip in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.57.
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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