Dril-Quip, Inc. (DRQ) Position Lowered by Profund Advisors LLC
Profund Advisors LLC lessened its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 18.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,457 shares of the oil and gas company’s stock after selling 1,682 shares during the quarter. Profund Advisors LLC’s holdings in Dril-Quip were worth $364,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Riverhead Capital Management LLC increased its stake in Dril-Quip by 66.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock valued at $130,000 after purchasing an additional 1,063 shares in the last quarter. LS Investment Advisors LLC increased its stake in Dril-Quip by 17.6% during the 2nd quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after purchasing an additional 450 shares in the last quarter. ING Groep NV acquired a new position in Dril-Quip during the 2nd quarter valued at approximately $225,000. Advantus Capital Management Inc increased its stake in Dril-Quip by 3.6% during the 1st quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 170 shares in the last quarter. Finally, Commerce Bank increased its stake in Dril-Quip by 3.1% during the 2nd quarter. Commerce Bank now owns 5,125 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 155 shares in the last quarter.
In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $43.49, for a total value of $86,980.00. Following the transaction, the vice president now directly owns 24,104 shares of the company’s stock, valued at approximately $1,048,282.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company’s stock.
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Shares of Dril-Quip, Inc. (NYSE DRQ) opened at 43.80 on Friday. The stock has a 50 day moving average of $41.07 and a 200 day moving average of $47.74. The stock has a market capitalization of $1.66 billion, a P/E ratio of 81.41 and a beta of 0.70. Dril-Quip, Inc. has a 12-month low of $35.85 and a 12-month high of $69.40.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. Dril-Quip’s revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Equities research analysts anticipate that Dril-Quip, Inc. will post $0.11 EPS for the current fiscal year.
A number of research analysts have issued reports on the stock. Cowen and Company set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research note on Friday. BidaskClub lowered shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a research note on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.67.
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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