First Trust Advisors LP cut its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 88.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,656 shares of the oil and gas company’s stock after selling 188,570 shares during the period. First Trust Advisors LP owned about 0.06% of Dril-Quip worth $1,044,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Shell Asset Management Co. purchased a new stake in shares of Dril-Quip in the 3rd quarter worth about $1,742,000. Grandeur Peak Global Advisors LLC boosted its position in shares of Dril-Quip by 1.4% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 52,250 shares of the oil and gas company’s stock worth $2,550,000 after buying an additional 700 shares in the last quarter. Dean Capital Management boosted its position in shares of Dril-Quip by 163.4% in the 2nd quarter. Dean Capital Management now owns 102,469 shares of the oil and gas company’s stock worth $5,001,000 after buying an additional 63,560 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Dril-Quip in the 2nd quarter worth about $778,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Dril-Quip by 10.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 34,254 shares of the oil and gas company’s stock worth $1,671,000 after buying an additional 3,326 shares in the last quarter.
In other news, VP James C. Webster sold 2,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $43.49, for a total transaction of $86,980.00. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, insider Blake T. Deberry sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total transaction of $446,600.00. Following the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,662 shares of company stock valued at $2,013,999. Corporate insiders own 0.87% of the company’s stock.
Dril-Quip, Inc. (NYSE DRQ) opened at $48.75 on Tuesday. The stock has a market cap of $1,853.27, a PE ratio of 116.55 and a beta of 0.73. Dril-Quip, Inc. has a 1-year low of $35.85 and a 1-year high of $69.40.
Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. The company 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 firm’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. analysts forecast that Dril-Quip, Inc. will post 0.18 EPS for the current year.
DRQ has been the topic of a number of recent research reports. Cowen set a $43.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a report on Friday, October 6th. Gabelli initiated coverage on shares of Dril-Quip in a report on Friday, October 20th. They issued a “hold” rating and a $43.00 target price on the stock. 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 restated a “hold” rating and issued a $38.00 target price on shares of Dril-Quip in a report on Friday, November 10th. Finally, FBR & Co restated a “buy” rating on shares of Dril-Quip in a report on Friday, October 27th. 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 stock. The stock presently has an average rating of “Hold” and an average price target of $48.57.
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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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