Boston Partners increased its position in Dril-Quip, Inc. (NYSE:DRQ) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 375,257 shares of the oil and gas company’s stock after buying an additional 17,780 shares during the period. Boston Partners owned 0.99% of Dril-Quip worth $18,312,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in Dril-Quip by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,267 shares of the oil and gas company’s stock worth $724,000 after buying an additional 200 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Dril-Quip by 6.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 109,449 shares of the oil and gas company’s stock worth $5,970,000 after buying an additional 6,400 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Dril-Quip by 60.3% in the first quarter. Janney Montgomery Scott LLC now owns 19,957 shares of the oil and gas company’s stock worth $1,089,000 after buying an additional 7,508 shares in the last quarter. First Quadrant L P CA boosted its stake in Dril-Quip by 2.3% in the first quarter. First Quadrant L P CA now owns 474,734 shares of the oil and gas company’s stock worth $25,897,000 after buying an additional 10,462 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Dril-Quip during the first quarter worth approximately $483,000.
Dril-Quip, Inc. (DRQ) opened at 39.70 on Wednesday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 73.79 and a beta of 0.63. The stock has a 50 day moving average price of $46.94 and a 200 day moving average price of $52.68. Dril-Quip, Inc. has a 1-year low of $38.70 and a 1-year high of $69.40.
Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. Analysts predict that Dril-Quip, Inc. will post $0.12 EPS for the current year.
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A number of brokerages have issued reports on DRQ. BidaskClub raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Barclays PLC lowered Dril-Quip from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $77.00 to $57.00 in a research note on Monday, May 1st. Zacks Investment Research raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Cowen and Company decreased their price target on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research note on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 price target on Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.00.
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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