Engineers Gate Manager LP purchased a new position in shares of Dril-Quip, Inc. (NYSE:DRQ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 74,827 shares of the oil and gas company’s stock, valued at approximately $3,652,000. Engineers Gate Manager LP owned 0.20% of Dril-Quip at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Northwestern Mutual Investment Management Company LLC grew its position in shares of Dril-Quip by 0.5% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company’s stock worth $383,000 after buying an additional 33 shares during the period. Metropolitan Life Insurance Co. NY grew its position in shares of Dril-Quip by 0.3% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 35,235 shares of the oil and gas company’s stock worth $1,922,000 after buying an additional 114 shares during the period. Commerce Bank grew its position in shares of Dril-Quip by 3.1% during the 2nd quarter. Commerce Bank now owns 5,125 shares of the oil and gas company’s stock worth $250,000 after buying an additional 155 shares during the period. Advantus Capital Management Inc grew its position in shares of Dril-Quip by 3.6% during the 1st quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock worth $264,000 after buying an additional 170 shares during the period. Finally, Amalgamated Bank grew its position in shares of Dril-Quip by 3.0% during the 1st quarter. Amalgamated Bank now owns 5,989 shares of the oil and gas company’s stock worth $327,000 after buying an additional 176 shares during the period.
Several brokerages have recently commented on DRQ. BidaskClub upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Saturday, July 29th. Cowen and Company lowered their price target on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research report on Monday, July 31st. Finally, Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $56.00.
Dril-Quip, Inc. (NYSE DRQ) opened at 40.05 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of 74.44 and a beta of 0.67. Dril-Quip, Inc. has a one year low of $35.85 and a one year high of $69.40. The company’s 50-day moving average is $41.53 and its 200-day moving average is $49.85.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $127.90 million during the quarter, compared to analyst estimates of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. On average, analysts forecast that Dril-Quip, Inc. will post $0.11 earnings per share for the current fiscal year.
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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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