Public Employees Retirement System of Ohio lowered its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 30.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,393 shares of the oil and gas company’s stock after selling 16,580 shares during the quarter. Public Employees Retirement System of Ohio owned 0.10% of Dril-Quip worth $1,874,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of DRQ. Grandeur Peak Global Advisors LLC raised its position in shares of Dril-Quip by 1.4% during the second quarter. Grandeur Peak Global Advisors LLC now owns 52,250 shares of the oil and gas company’s stock valued at $2,550,000 after buying an additional 700 shares during the last quarter. Dean Capital Management raised its holdings in Dril-Quip by 163.4% in the second quarter. Dean Capital Management now owns 102,469 shares of the oil and gas company’s stock worth $5,001,000 after purchasing an additional 63,560 shares in the last quarter. Sterling Capital Management LLC bought a new position in Dril-Quip in the second quarter worth about $778,000. Ameritas Investment Partners Inc. raised its holdings in Dril-Quip by 10.8% in the second quarter. Ameritas Investment Partners Inc. now owns 34,254 shares of the oil and gas company’s stock worth $1,671,000 after purchasing an additional 3,326 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Dril-Quip by 51.7% during the second quarter. The Manufacturers Life Insurance Company now owns 84,965 shares of the oil and gas company’s stock valued at $4,147,000 after acquiring an additional 28,946 shares in the last quarter.
Several research firms have recently issued reports on DRQ. Cowen and Company restated a “market perform” rating and set a $39.00 price objective (down previously from $43.00) on shares of Dril-Quip in a report on Monday, October 30th. Wolfe Research upgraded shares of Dril-Quip from an “underperform” rating to a “market perform” rating in a report on Tuesday, October 31st. FBR & Co restated a “buy” rating on shares of Dril-Quip in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday. Finally, Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the company a “hold” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.50.
In other Dril-Quip news, insider Blake T. Deberry sold 14,819 shares of the company’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 value of $614,840.31. Following the sale, the insider now owns 113,175 shares in the company, valued at approximately $4,695,630.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James C. Webster sold 4,890 shares of the company’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 value of $202,886.10. Following the completion of the sale, the vice president now owns 34,947 shares in the company, valued at approximately $1,449,951.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,662 shares of company stock worth $1,567,399. Insiders own 0.87% of the company’s stock.
Dril-Quip, Inc. (NYSE:DRQ) opened at $44.15 on Friday. The firm has a market capitalization of $1,671.56, a price-to-earnings ratio of 105.12 and a beta of 0.68.
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 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 company had revenue of $100.35 million for the quarter, compared to the consensus estimate of $106.74 million. During the same quarter in the prior year, the company earned $0.63 EPS. Dril-Quip’s quarterly revenue was down 18.8% on a year-over-year basis. analysts forecast that Dril-Quip, Inc. will post 0.19 earnings per share for the current year.
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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