Wesbanco Bank Inc. Boosts Holdings in Dril-Quip, Inc. (DRQ)

Wesbanco Bank Inc. lifted its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 52.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,135 shares of the oil and gas company’s stock after purchasing an additional 2,450 shares during the period. Wesbanco Bank Inc.’s holdings in Dril-Quip were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DRQ. Riverhead Capital Management LLC lifted its position in shares of Dril-Quip by 66.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 1,063 shares during the last quarter. QS Investors LLC lifted its position in shares of Dril-Quip by 0.5% during the 2nd quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 13 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of Dril-Quip by 17.6% during the 2nd quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after purchasing an additional 450 shares during the last quarter. Flinton Capital Management LLC lifted its position in shares of Dril-Quip by 64.8% during the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 1,596 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of Dril-Quip during the 2nd quarter worth $225,000.

In other news, CFO Jeffrey J. Bird sold 1,931 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $80,117.19. Following the sale, the chief financial officer now directly owns 24,719 shares in the company, valued at $1,025,591.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James C. Webster sold 2,000 shares of the company’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 transaction, the vice president now directly owns 24,104 shares in the company, valued at approximately $1,048,282.96. The disclosure for this sale can be found here. Insiders sold 37,662 shares of company stock worth $1,567,399 over the last quarter. Company insiders own 0.87% of the company’s stock.

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A number of equities research analysts recently weighed in on DRQ shares. B. Riley reissued 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 price target for the company in a research report on Wednesday, November 1st. Wolfe Research raised shares of Dril-Quip from an “underperform” rating to a “market perform” rating in a report on Tuesday, October 31st. TheStreet cut shares of Dril-Quip from a “c” rating to a “d+” rating in a report on Friday, October 27th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $39.00 target price (down from $43.00) on shares of Dril-Quip in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.50.

Shares of Dril-Quip, Inc. (NYSE DRQ) traded down $0.20 on Thursday, reaching $45.85. 573,429 shares of the company’s stock traded hands, compared to its average volume of 685,608. Dril-Quip, Inc. has a one year low of $35.85 and a one year high of $69.40. The firm has a market capitalization of $1,743.48, a price-to-earnings ratio of 109.64 and a beta of 0.68.

Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 negative net margin of 6.14% and a positive return on equity of 1.19%. The firm’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. analysts expect that Dril-Quip, Inc. will post 0.15 EPS for the current fiscal year.

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

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