Dril-Quip, Inc. (NYSE:DRQ) COO James A. Gariepy sold 13,409 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $556,339.41. Following the transaction, the chief operating officer now directly owns 104,753 shares of the company’s stock, valued at $4,346,201.97. The sale was disclosed in a document filed with the SEC, which is available through this link.
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 (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The business had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The firm’s revenue was down 18.8% compared to the same quarter last year.
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A number of brokerages have recently weighed in on DRQ. BidaskClub cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Cowen and Company dropped their price objective on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research note on Monday, July 31st. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, FBR & Co raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $55.00 in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $50.50.
Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Dril-Quip by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 166,115 shares of the oil and gas company’s stock valued at $9,062,000 after buying an additional 4,594 shares during the period. Legal & General Group Plc increased its stake in Dril-Quip by 124.8% in the 1st quarter. Legal & General Group Plc now owns 23,850 shares of the oil and gas company’s stock valued at $1,301,000 after buying an additional 13,239 shares during the period. Vanguard Group Inc. increased its stake in Dril-Quip by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 3,108,114 shares of the oil and gas company’s stock valued at $169,548,000 after buying an additional 124,962 shares during the period. UBS Group AG increased its stake in Dril-Quip by 2.7% in the 1st quarter. UBS Group AG now owns 38,635 shares of the oil and gas company’s stock valued at $2,108,000 after buying an additional 1,002 shares during the period. Finally, BlackRock Inc. increased its stake in Dril-Quip by 8,615.2% in the 1st quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after buying an additional 3,540,338 shares during the period.
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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