California Public Employees Retirement System raised its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,853 shares of the oil and gas company’s stock after acquiring an additional 10,406 shares during the quarter. California Public Employees Retirement System’s holdings in Dril-Quip were worth $5,812,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Dril-Quip during the 3rd quarter valued at $136,000. Unison Advisors LLC bought a new stake in Dril-Quip during the 4th quarter valued at $212,000. Symons Capital Management Inc. bought a new stake in Dril-Quip during the 3rd quarter valued at $232,000. ING Groep NV boosted its position in Dril-Quip by 23.3% during the 4th quarter. ING Groep NV now owns 5,713 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 1,079 shares in the last quarter. Finally, Wrapmanager Inc. bought a new stake in Dril-Quip during the 4th quarter valued at $328,000.
Several analysts have issued reports on the company. Capital One Financial reaffirmed an “equal weight” rating on shares of Dril-Quip in a research report on Thursday, February 22nd. Piper Jaffray Companies set a $40.00 price objective on Dril-Quip and gave the company a “hold” rating in a report on Thursday. TheStreet upgraded Dril-Quip from a “d+” rating to a “c-” rating in a report on Friday, January 26th. B. Riley set a $55.00 price objective on Dril-Quip and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Dril-Quip has an average rating of “Hold” and an average target price of $49.38.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Dril-Quip had a negative net margin of 22.10% and a positive return on equity of 0.56%. The business had revenue of $107.97 million for the quarter, compared to analysts’ expectations of $99.73 million. During the same quarter in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. analysts expect that Dril-Quip, Inc. will post 0.14 earnings per share for the current year.
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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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