Dynamic Technology Lab Private Ltd bought a new position in Dril-Quip Inc. (NYSE:DRQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,516 shares of the company’s stock, valued at approximately $206,000.
Several other institutional investors have also recently modified their holdings of DRQ. LS Investment Advisors LLC raised its stake in Dril-Quip by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,281 shares of the company’s stock worth $133,000 after buying an additional 968 shares during the last quarter. Oakbrook Investments LLC acquired a new stake in shares of Dril-Quip during the second quarter valued at about $202,000. Huntington Asset Advisors Inc. acquired a new stake in shares of Dril-Quip during the first quarter valued at about $212,000. Legal & General Group Plc raised its stake in shares of Dril-Quip by 2.6% in the first quarter. Legal & General Group Plc now owns 3,949 shares of the company’s stock valued at $239,000 after buying an additional 99 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Dril-Quip during the first quarter valued at about $284,000.
Dril-Quip Inc. (NYSE:DRQ) opened at 55.71 on Wednesday. The stock’s 50 day moving average price is $54.85 and its 200-day moving average price is $58.17. The company has a market capitalization of $2.09 billion, a P/E ratio of 12.31 and a beta of 0.77. Dril-Quip Inc. has a one year low of $48.88 and a one year high of $68.69.
Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Friday, July 29th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.67 by $0.29. The company had revenue of $142.40 million for the quarter, compared to the consensus estimate of $149.33 million. Dril-Quip had a return on equity of 10.92% and a net margin of 24.16%. Dril-Quip’s quarterly revenue was down 33.8% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. Equities analysts forecast that Dril-Quip Inc. will post $2.17 EPS for the current year.
Several brokerages have recently issued reports on DRQ. Zacks Investment Research lowered Dril-Quip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 2nd. Morgan Stanley reissued a “hold” rating and issued a $73.00 price objective on shares of Dril-Quip in a report on Monday, August 1st. JPMorgan Chase & Co. assumed coverage on Dril-Quip in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Howard Weil decreased their price objective on Dril-Quip from $72.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, July 29th. Finally, Scotiabank reissued a “sector perform” rating and issued a $67.00 price objective (down previously from $72.00) on shares of Dril-Quip in a report on Sunday, July 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Dril-Quip presently has an average rating of “Hold” and a consensus target price of $63.33.
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered offshore drilling and production equipment. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters.
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