Wells Fargo & Company MN Acquires 255,037 Shares of Dril-Quip, Inc. (DRQ)

Wells Fargo & Company MN boosted its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 43.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 842,542 shares of the oil and gas company’s stock after buying an additional 255,037 shares during the period. Wells Fargo & Company MN owned about 2.23% of Dril-Quip worth $37,199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverhead Capital Management LLC boosted its stake in 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 buying an additional 1,063 shares in the last quarter. QS Investors LLC boosted its stake 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 worth $137,000 after buying an additional 13 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Dril-Quip during the third quarter worth $136,000. Flinton Capital Management LLC boosted its stake 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 worth $198,000 after buying an additional 1,596 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Dril-Quip during the second quarter worth $241,000.

Several equities research analysts have recently commented on DRQ shares. Cowen set a $43.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a research note on Friday, October 6th. Gabelli started coverage on shares of Dril-Quip in a research note on Friday, October 20th. They issued a “hold” rating and a $43.00 target price on the stock. Zacks Investment Research downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Piper Jaffray Companies restated a “hold” rating and issued a $38.00 target price on shares of Dril-Quip in a research note on Friday, November 10th. Finally, FBR & Co restated a “buy” rating on shares of Dril-Quip in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Dril-Quip presently has an average rating of “Hold” and a consensus target price of $48.57.

In related news, VP James C. Webster sold 4,890 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $41.49, for a total transaction of $202,886.10. Following the transaction, the vice president now owns 34,947 shares in the company, valued at approximately $1,449,951.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP James C. Webster sold 2,000 shares of the company’s stock in a transaction dated 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 owns 24,104 shares in the company, valued at approximately $1,048,282.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,662 shares of company stock worth $2,013,999. 0.87% of the stock is owned by corporate insiders.

Shares of Dril-Quip, Inc. (NYSE:DRQ) traded up $0.35 during midday trading on Wednesday, reaching $45.60. 383,800 shares of the company traded hands, compared to its average volume of 561,926. The firm has a market cap of $1,730.00, a P/E ratio of 107.74 and a beta of 0.73. Dril-Quip, Inc. has a 1-year low of $35.85 and a 1-year high of $67.95.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The business had revenue of $100.35 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. analysts predict that Dril-Quip, Inc. will post 0.2 EPS for the current year.

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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.

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

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