Dril-Quip, Inc. (DRQ) Position Held by Glenmede Trust Co. NA
Glenmede Trust Co. NA held its stake in Dril-Quip, Inc. (NYSE:DRQ) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,696 shares of the oil and gas company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Dril-Quip were worth $642,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Tyers Asset Management LLC raised its position in Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock worth $106,000 after buying an additional 308 shares during the period. TrimTabs Asset Management LLC raised its position in Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock worth $109,000 after buying an additional 944 shares during the period. Flinton Capital Management LLC raised its position in shares of Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 392 shares during the last quarter. Neuburgh Advisers LLC raised its position in shares of Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 476 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Dril-Quip by 87.8% in the first quarter. Huntington National Bank now owns 3,080 shares of the oil and gas company’s stock valued at $168,000 after buying an additional 1,440 shares during the last quarter.
Shares of Dril-Quip, Inc. (DRQ) traded down 1.84% on Thursday, reaching $42.60. The company’s stock had a trading volume of 533,755 shares. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 78.89 and a beta of 0.63. Dril-Quip, Inc. has a 12 month low of $42.60 and a 12 month high of $69.40. The stock has a 50 day moving average of $49.45 and a 200-day moving average of $54.17.
Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Dril-Quip had a return on equity of 2.13% and a net margin of 4.28%. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $112.12 million. During the same period last year, the business posted $0.96 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, analysts anticipate that Dril-Quip, Inc. will post $0.15 EPS for the current year.
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Several equities analysts have recently issued reports on DRQ shares. Barclays PLC lowered Dril-Quip from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $77.00 to $57.00 in a research note on Monday, May 1st. Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Cowen and Company reduced their price objective on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research report on Monday. Finally, Piper Jaffray Companies set a $43.00 price objective on Dril-Quip and gave the stock a “hold” rating in a research report on Saturday, July 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Dril-Quip has a consensus rating of “Hold” and a consensus price target of $56.00.
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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