Rhumbline Advisers raised its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 57.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,218 shares of the oil and gas company’s stock after purchasing an additional 41,439 shares during the period. Rhumbline Advisers owned approximately 0.32% of Dril-Quip worth $3,400,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC bought a new stake in Dril-Quip in the 3rd quarter valued at about $243,000. PEAK6 Investments LLC bought a new stake in shares of Dril-Quip during the 3rd quarter worth approximately $302,000. First Hawaiian Bank lifted its holdings in shares of Dril-Quip by 10.4% during the 4th quarter. First Hawaiian Bank now owns 7,879 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 740 shares during the period. Brasada Capital Management LP lifted its holdings in shares of Dril-Quip by 61.9% during the 3rd quarter. Brasada Capital Management LP now owns 8,094 shares of the oil and gas company’s stock worth $423,000 after acquiring an additional 3,094 shares during the period. Finally, HGK Asset Management Inc. lifted its holdings in shares of Dril-Quip by 6.0% during the 4th quarter. HGK Asset Management Inc. now owns 9,306 shares of the oil and gas company’s stock worth $279,000 after acquiring an additional 526 shares during the period.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. ValuEngine downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Barclays raised shares of Dril-Quip from an “underweight” rating to an “equal weight” rating and set a $38.84 price target for the company in a report on Wednesday, February 20th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Dril-Quip in a report on Thursday, January 17th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Dril-Quip presently has a consensus rating of “Hold” and an average price target of $48.47.
Shares of Dril-Quip stock opened at $42.61 on Friday. Dril-Quip, Inc. has a 1-year low of $26.62 and a 1-year high of $58.95. The company has a market cap of $1.34 billion, a PE ratio of 165.54 and a beta of 1.46.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Tuesday, February 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.16. Dril-Quip had a negative net margin of 23.34% and a negative return on equity of 1.95%. The company had revenue of $97.30 million during the quarter, compared to the consensus estimate of $87.05 million. During the same quarter in the prior year, the firm posted $0.01 EPS. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. On average, research analysts forecast that Dril-Quip, Inc. will post -0.76 earnings per share for the current year.
Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.
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