Dril-Quip, Inc. (NYSE:DRQ) Shares Sold by Energy Opportunities Capital Management LLC

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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.

In other Dril-Quip news, CEO Blake T. Deberry sold 29,086 shares of Dril-Quip stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $43.59, for a total transaction of $1,267,858.74. Following the completion of the transaction, the chief executive officer now owns 170,681 shares in the company, valued at approximately $7,439,984.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Blake T. Deberry sold 4,233 shares of Dril-Quip stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $44.70, for a total value of $189,215.10. Following the transaction, the chief executive officer now owns 191,024 shares of the company’s stock, valued at approximately $8,538,772.80. The disclosure for this sale can be found here. Insiders sold a total of 59,981 shares of company stock valued at $2,669,275 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

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.

About Dril-Quip

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

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