Nisa Investment Advisors LLC Maintains Position in Dril-Quip, Inc. (DRQ)
Nisa Investment Advisors LLC maintained its position in Dril-Quip, Inc. (NYSE:DRQ) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,400 shares of the oil and gas company’s stock at the end of the first quarter. Nisa Investment Advisors LLC owned about 0.07% of Dril-Quip worth $1,440,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in DRQ. Flinton Capital Management LLC bought a new position in shares of Dril-Quip during the fourth quarter worth about $124,000. LS Investment Advisors LLC boosted its stake in shares of Dril-Quip by 5.7% in the third quarter. LS Investment Advisors LLC now owns 2,411 shares of the oil and gas company’s stock worth $134,000 after buying an additional 130 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Dril-Quip during the fourth quarter worth approximately $265,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Dril-Quip during the fourth quarter worth approximately $306,000. Finally, ETRADE Capital Management LLC boosted its stake in shares of Dril-Quip by 55.9% in the third quarter. ETRADE Capital Management LLC now owns 5,717 shares of the oil and gas company’s stock worth $319,000 after buying an additional 2,051 shares in the last quarter.
Shares of Dril-Quip, Inc. (NYSE:DRQ) opened at 52.85 on Friday. Dril-Quip, Inc. has a 52-week low of $46.90 and a 52-week high of $69.40. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 35.26 and a beta of 0.73. The stock has a 50 day moving average price of $52.54 and a 200-day moving average price of $56.91.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $119.23 million during the quarter, compared to analyst estimates of $97.62 million. Dril-Quip had a return on equity of 8.51% and a net margin of 22.12%. The company’s revenue was down 28.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. On average, equities research analysts predict that Dril-Quip, Inc. will post $0.16 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on DRQ shares. Zacks Investment Research raised Dril-Quip from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Thursday, February 23rd. Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $77.00 to $57.00 in a report on Monday, May 1st. Guggenheim lowered Dril-Quip from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 1st. Finally, Scotiabank set a $65.00 price target on Dril-Quip and gave the company a “hold” rating in a research note on Thursday, March 2nd. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $62.00.
Dril-Quip Company Profile
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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