Quantbot Technologies LP Takes $136,000 Position in Dril-Quip, Inc. (DRQ)

Quantbot Technologies LP acquired a new position in shares of Dril-Quip, Inc. (NYSE:DRQ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,097 shares of the oil and gas company’s stock, valued at approximately $136,000.

A number of other large investors have also bought and sold shares of DRQ. Bank of Montreal Can boosted its stake in Dril-Quip by 12.0% during the second quarter. Bank of Montreal Can now owns 25,105 shares of the oil and gas company’s stock worth $1,225,000 after acquiring an additional 2,681 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Dril-Quip by 4.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,827 shares of the oil and gas company’s stock worth $675,000 after acquiring an additional 560 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Dril-Quip by 17.6% during the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after acquiring an additional 450 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Dril-Quip by 4.2% during the second quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the oil and gas company’s stock worth $483,000 after acquiring an additional 400 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in Dril-Quip by 88.1% during the second quarter. Aperio Group LLC now owns 51,688 shares of the oil and gas company’s stock worth $2,522,000 after acquiring an additional 24,211 shares in the last quarter.

DRQ has been the topic of several analyst reports. TheStreet downgraded shares of Dril-Quip from a “c” rating to a “d+” rating in a research note 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 target price on the stock in a research note on Wednesday, November 1st. FBR & Co reiterated a “buy” rating on shares of Dril-Quip in a research note on Friday, October 27th. Gabelli initiated coverage on shares of Dril-Quip in a research note on Friday, October 20th. They issued a “hold” rating and a $43.00 target price on the stock. Finally, Cowen 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.57.

In related news, VP James C. Webster sold 2,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $43.49, for a total transaction of $86,980.00. Following the transaction, the vice president now owns 24,104 shares in the company, valued at $1,048,282.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey J. Bird sold 1,931 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.49, for a total transaction of $80,117.19. Following the transaction, the chief financial officer now owns 24,719 shares in the company, valued at approximately $1,025,591.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,662 shares of company stock worth $2,013,999. 0.87% of the stock is owned by insiders.

Dril-Quip, Inc. (NYSE DRQ) opened at $48.95 on Friday. The stock has a market cap of $1,853.30, a P/E ratio of 116.55 and a beta of 0.73. Dril-Quip, Inc. has a 52 week low of $35.85 and a 52 week high of $69.40.

Dril-Quip (NYSE:DRQ) last issued its 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. The firm had revenue of $100.35 million for the quarter, compared to the consensus estimate of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The business’s revenue was down 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. equities analysts expect that Dril-Quip, Inc. will post 0.18 earnings per share for the current fiscal year.

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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.

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

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