ProShare Advisors LLC Has $454,000 Holdings in Dril-Quip, Inc. (DRQ)
ProShare Advisors LLC raised its stake in Dril-Quip, Inc. (NYSE:DRQ) by 45.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,299 shares of the oil and gas company’s stock after buying an additional 2,910 shares during the period. ProShare Advisors LLC’s holdings in Dril-Quip were worth $454,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Dril-Quip by 0.6% in the 1st quarter. FMR LLC now owns 5,073,126 shares of the oil and gas company’s stock valued at $276,739,000 after buying an additional 30,340 shares during the last quarter. BlackRock Inc. grew its position in shares of Dril-Quip by 17.9% in the 2nd quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock valued at $206,022,000 after buying an additional 640,319 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Dril-Quip by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 3,108,114 shares of the oil and gas company’s stock valued at $169,548,000 after buying an additional 124,962 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Dril-Quip by 31.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,193 shares of the oil and gas company’s stock valued at $133,929,000 after buying an additional 587,520 shares during the last quarter. Finally, State Street Corp grew its position in shares of Dril-Quip by 2.7% in the 1st quarter. State Street Corp now owns 1,180,848 shares of the oil and gas company’s stock valued at $64,416,000 after buying an additional 31,362 shares during the last quarter.
In related news, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.49, for a total value of $86,980.00. Following the sale, the vice president now directly owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by company insiders.
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A number of equities research analysts have commented on DRQ shares. BidaskClub upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Piper Jaffray Companies set a $43.00 price target on Dril-Quip and gave the company a “hold” rating in a research report on Saturday, July 29th. Cowen and Company reduced their price target on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research report on Monday, July 31st. Finally, Scotiabank set a $61.00 price target on Dril-Quip and gave the company a “hold” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Dril-Quip presently has an average rating of “Hold” and an average target price of $53.67.
Shares of Dril-Quip, Inc. (NYSE DRQ) opened at 43.80 on Friday. The company’s 50 day moving average price is $41.07 and its 200 day moving average price is $47.74. Dril-Quip, Inc. has a 12 month low of $35.85 and a 12 month high of $69.40. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 81.41 and a beta of 0.70.
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, topping the Thomson Reuters’ 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 return on equity of 2.12% and a net margin of 4.28%. Dril-Quip’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. On average, equities analysts expect that Dril-Quip, Inc. will post $0.11 EPS for the current fiscal year.
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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