Dril-Quip, Inc. (DRQ) Stake Decreased by Empirical Finance LLC

Empirical Finance LLC cut its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 51.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,864 shares of the oil and gas company’s stock after selling 16,563 shares during the quarter. Empirical Finance LLC’s holdings in Dril-Quip were worth $701,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DRQ. Legal & General Group Plc grew its stake in shares of Dril-Quip by 124.8% during the 1st quarter. Legal & General Group Plc now owns 23,850 shares of the oil and gas company’s stock worth $1,301,000 after purchasing an additional 13,239 shares during the period. Vanguard Group Inc. grew its stake in shares of Dril-Quip by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 3,108,114 shares of the oil and gas company’s stock worth $169,548,000 after purchasing an additional 124,962 shares during the period. UBS Group AG grew its stake in shares of Dril-Quip by 2.7% during the 1st quarter. UBS Group AG now owns 38,635 shares of the oil and gas company’s stock worth $2,108,000 after purchasing an additional 1,002 shares during the period. BlackRock Inc. grew its stake in shares of Dril-Quip by 8,615.2% during the 1st quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock worth $195,368,000 after purchasing an additional 3,540,338 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Dril-Quip by 3.0% during the 1st quarter. Amalgamated Bank now owns 5,989 shares of the oil and gas company’s stock worth $327,000 after purchasing an additional 176 shares during the period.

In other Dril-Quip news, Director A P. Shukis sold 613 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $42.80, for a total value of $26,236.40. Following the completion of the sale, the director now directly owns 12,282 shares in the company, valued at $525,669.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Blake T. Deberry sold 14,819 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $614,840.31. Following the completion of the sale, the insider now owns 113,175 shares of the company’s stock, valued at $4,695,630.75. The disclosure for this sale can be found here. Insiders sold 37,662 shares of company stock valued at $1,567,399 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

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Dril-Quip, Inc. (NYSE:DRQ) traded up $1.40 during trading hours on Monday, reaching $45.55. 34,006 shares of the company’s stock were exchanged, compared to its average volume of 675,530. The company has a market capitalization of $1,671.54, a PE ratio of 105.12 and a beta of 0.68.

Dril-Quip (NYSE:DRQ) last announced 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 consensus estimate of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company had revenue of $100.35 million during the quarter, compared to the consensus estimate of $106.74 million. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year. research analysts expect that Dril-Quip, Inc. will post 0.19 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on DRQ shares. BidaskClub cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Saturday, July 29th. Cowen and Company decreased their price objective on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research report on Monday, July 31st. Scotiabank set a $61.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, FBR & Co upgraded shares of Dril-Quip from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $55.00 in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $50.50.

About Dril-Quip

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

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