Energy Opportunities Capital Management LLC lessened its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 30.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,368 shares of the oil and gas company’s stock after selling 8,936 shares during the quarter. Dril-Quip makes up about 2.9% of Energy Opportunities Capital Management LLC’s portfolio, making the stock its 16th biggest position. Energy Opportunities Capital Management LLC owned approximately 0.06% of Dril-Quip worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DRQ. Kavar Capital Partners LLC bought a new stake in Dril-Quip during the 2nd quarter valued at $27,000. NumerixS Investment Technologies Inc boosted its position in Dril-Quip by 450.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 900 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Dril-Quip during the 2nd quarter valued at $62,000. Russell Investments Group Ltd. bought a new stake in Dril-Quip during the 3rd quarter valued at $113,000. Finally, ARP Americas LP purchased a new stake in shares of Dril-Quip during the 3rd quarter valued at $271,000.
Several analysts have recently commented on the company. Evercore ISI reiterated a “buy” rating and set a $53.00 price objective on shares of Dril-Quip in a report on Monday, November 11th. Wolfe Research assumed coverage on Dril-Quip in a report on Wednesday, November 27th. They set an “underperform” rating and a $43.00 price objective for the company. B. Riley increased their price objective on Dril-Quip from $48.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. ValuEngine lowered Dril-Quip from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, Morgan Stanley decreased their price objective on Dril-Quip from $45.00 to $42.00 and set an “underweight” rating for the company in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.69.
DRQ stock traded up $1.42 during midday trading on Wednesday, reaching $43.47. The stock had a trading volume of 363,922 shares, compared to its average volume of 415,316. The stock has a market cap of $1.53 billion, a PE ratio of -69.00 and a beta of 1.50. The firm has a fifty day simple moving average of $44.75 and a two-hundred day simple moving average of $46.30. Dril-Quip, Inc. has a 52-week low of $26.62 and a 52-week high of $56.71.
Dril-Quip (NYSE:DRQ) last issued its earnings results on Thursday, October 24th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.19). The firm had revenue of $108.23 million during the quarter, compared to analysts’ expectations of $103.17 million. Dril-Quip had a negative return on equity of 0.58% and a negative net margin of 19.96%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.20) EPS. As a group, research analysts forecast that Dril-Quip, Inc. will post 0.06 EPS for the current fiscal 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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