Energy Opportunities Capital Management LLC reduced its position in Dril-Quip, Inc. (NYSE:DRQ) by 36.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,373 shares of the oil and gas company’s stock after selling 41,223 shares during the quarter. Dril-Quip comprises approximately 2.0% of Energy Opportunities Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Energy Opportunities Capital Management LLC owned about 0.19% of Dril-Quip worth $3,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new position in Dril-Quip in the second quarter worth $3,652,000. American Century Companies Inc. grew its holdings in Dril-Quip by 0.5% in the second quarter. American Century Companies Inc. now owns 879,376 shares of the oil and gas company’s stock worth $42,914,000 after purchasing an additional 3,963 shares during the last quarter. Heartland Advisors Inc. purchased a new position in Dril-Quip in the second quarter worth $5,467,000. Shell Asset Management Co. purchased a new position in Dril-Quip in the third quarter worth $1,742,000. Finally, Marshall Wace North America L.P. purchased a new position in Dril-Quip in the second quarter worth $1,547,000.

Several research firms have issued reports on DRQ. Zacks Investment Research lowered shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $38.00 price target on shares of Dril-Quip in a report on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Dril-Quip in a report on Wednesday, November 1st. Cowen set a $43.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, FBR & Co raised shares of Dril-Quip from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $55.00 in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.57.

In related news, Director A P. Shukis sold 613 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $42.80, for a total transaction of $26,236.40. Following the completion of the transaction, the director now directly owns 12,282 shares in the company, valued at $525,669.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Blake T. Deberry sold 14,819 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $41.49, for a total transaction of $614,840.31. Following the transaction, the insider now owns 113,175 shares of the company’s stock, valued at $4,695,630.75. The disclosure for this sale can be found here. Insiders have sold 47,662 shares of company stock worth $2,013,999 over the last three months. Corporate insiders own 0.87% of the company’s stock.

Shares of Dril-Quip, Inc. (DRQ) opened at $45.25 on Friday. The firm has a market cap of $1,720.76, a price-to-earnings ratio of 108.21 and a beta of 0.73. Dril-Quip, Inc. has a 1-year low of $35.85 and a 1-year high of $67.95.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The business’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. analysts anticipate that Dril-Quip, Inc. will post 0.2 EPS for the current fiscal year.

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About Dril-Quip

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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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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