Grandeur Peak Global Advisors LLC Increases Stake in Dril-Quip, Inc. (DRQ)
Grandeur Peak Global Advisors LLC increased its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,250 shares of the oil and gas company’s stock after buying an additional 700 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.14% of Dril-Quip worth $2,550,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in DRQ. BlackRock Inc. increased its stake in shares of Dril-Quip by 8,615.2% during the first quarter. BlackRock Inc. now owns 3,581,432 shares of the oil and gas company’s stock valued at $195,368,000 after buying an additional 3,540,338 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Dril-Quip by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock valued at $153,221,000 after buying an additional 684,559 shares during the period. Northern Trust Corp increased its stake in shares of Dril-Quip by 119.7% during the second quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock valued at $50,851,000 after buying an additional 567,821 shares during the period. Janus Henderson Group PLC increased its stake in shares of Dril-Quip by 269.0% during the second quarter. Janus Henderson Group PLC now owns 637,160 shares of the oil and gas company’s stock valued at $31,093,000 after buying an additional 464,501 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Dril-Quip by 1,074.1% during the second quarter. Alliancebernstein L.P. now owns 329,283 shares of the oil and gas company’s stock valued at $16,069,000 after buying an additional 301,237 shares during the period.
In other Dril-Quip news, VP James C. Webster sold 2,000 shares of the 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 owns 24,104 shares of the company’s stock, valued at approximately $1,048,282.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by company insiders.
Dril-Quip, Inc. (NYSE:DRQ) traded down 0.92% during trading on Thursday, reaching $42.90. The company’s stock had a trading volume of 174,651 shares. The stock has a market capitalization of $1.62 billion, a PE ratio of 79.74 and a beta of 0.70. Dril-Quip, Inc. has a 1-year low of $35.85 and a 1-year high of $69.40. The stock has a 50 day moving average price of $41.61 and a 200 day moving average price of $47.53.
Dril-Quip (NYSE:DRQ) last posted its quarterly 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. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. Dril-Quip’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Analysts anticipate that Dril-Quip, Inc. will post $0.11 earnings per share for the current fiscal year.
Several equities analysts have recently commented on DRQ shares. Cowen and Company cut their price target on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research note on Monday, July 31st. Scotiabank set a $61.00 price target on Dril-Quip and gave the company a “hold” rating in a research note on Monday, July 31st. BidaskClub lowered Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. FBR & Co upgraded Dril-Quip from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $55.00 in a research note on Tuesday. Finally, Piper Jaffray Companies set a $43.00 price target on Dril-Quip and gave the company a “hold” rating in a research note on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.86.
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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