Caxton Associates LP Takes Position in Dril-Quip, Inc. (NYSE:DRQ)

Caxton Associates LP bought a new stake in shares of Dril-Quip, Inc. (NYSE:DRQ) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 12,643 shares of the oil and gas company’s stock, valued at approximately $420,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in shares of Dril-Quip by 229.6% during the 1st quarter. Captrust Financial Advisors now owns 2,340 shares of the oil and gas company’s stock valued at $78,000 after purchasing an additional 1,630 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Dril-Quip by 7.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,732 shares of the oil and gas company’s stock valued at $157,000 after purchasing an additional 338 shares during the last quarter. Wesbanco Bank Inc. purchased a new position in Dril-Quip during the 1st quarter valued at $210,000. Mercer Global Advisors Inc. ADV purchased a new position in Dril-Quip during the 1st quarter valued at $215,000. Finally, M&T Bank Corp purchased a new position in Dril-Quip during the 4th quarter valued at $202,000.

In related news, VP James C. Webster sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $34.55, for a total transaction of $172,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.79% of the company’s stock.

A number of equities analysts recently issued reports on the company. Seaport Res Ptn restated a “neutral” rating on shares of Dril-Quip in a report on Thursday, July 15th. Seaport Global Securities initiated coverage on Dril-Quip in a report on Thursday, July 15th. They set a “neutral” rating and a $30.23 price objective for the company. BTIG Research initiated coverage on Dril-Quip in a report on Thursday, April 1st. They issued a “neutral” rating for the company. Finally, Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a report on Tuesday, June 1st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.06.

Shares of NYSE DRQ opened at $28.60 on Thursday. Dril-Quip, Inc. has a 1-year low of $22.25 and a 1-year high of $40.62. The stock’s fifty day moving average is $34.12.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Thursday, April 29th. The oil and gas company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.44). The company had revenue of $81.24 million for the quarter, compared to analysts’ expectations of $87.98 million. Dril-Quip had a negative return on equity of 1.68% and a negative net margin of 12.97%. As a group, analysts anticipate that Dril-Quip, Inc. will post -0.5 earnings per share for the current fiscal year.

Dril-Quip Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. The company's principal products include subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools.

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

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