Dril-Quip, Inc. (NYSE:DRQ) Director A P. Shukis sold 613 shares of Dril-Quip stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $42.80, for a total transaction of $26,236.40. Following the transaction, the director now directly owns 12,282 shares of the company’s stock, valued at approximately $525,669.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $106.74 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was down 18.8% on a year-over-year basis.
A number of equities analysts recently weighed in on DRQ shares. Cowen and Company set a $43.00 target price on shares of Dril-Quip and gave the stock 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 set a “hold” rating and a $43.00 target price for the company. Scotiabank set a $61.00 target price on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Friday, October 27th. FBR & Co reissued a “buy” rating on shares of Dril-Quip in a research note on Friday, October 27th. Finally, BidaskClub downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.50.
A number of hedge funds and other institutional investors have recently modified their holdings of DRQ. Investment Counselors of Maryland LLC purchased a new stake in shares of Dril-Quip in the 3rd quarter worth about $8,848,000. Wesbanco Bank Inc. grew its position in shares of Dril-Quip by 52.3% in the 3rd quarter. Wesbanco Bank Inc. now owns 7,135 shares of the oil and gas company’s stock worth $315,000 after buying an additional 2,450 shares during the period. Gabelli Funds LLC grew its position in shares of Dril-Quip by 92.2% in the 3rd quarter. Gabelli Funds LLC now owns 49,000 shares of the oil and gas company’s stock worth $2,163,000 after buying an additional 23,500 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Dril-Quip by 68.4% in the 3rd quarter. Gamco Investors INC. ET AL now owns 475,000 shares of the oil and gas company’s stock worth $20,971,000 after buying an additional 193,000 shares during the period. Finally, Frontier Capital Management Co. LLC grew its position in shares of Dril-Quip by 22.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 164,238 shares of the oil and gas company’s stock worth $7,251,000 after buying an additional 29,788 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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