First Eagle Investment Management LLC lifted its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,500 shares of the oil and gas company’s stock after acquiring an additional 4,900 shares during the quarter. First Eagle Investment Management LLC owned 0.06% of Dril-Quip worth $1,082,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Riverhead Capital Management LLC boosted its stake in shares of Dril-Quip by 66.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 1,063 shares in the last quarter. QS Investors LLC boosted its stake in shares of Dril-Quip by 0.5% during the 2nd quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 13 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of Dril-Quip by 17.6% during the 2nd quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after acquiring an additional 450 shares in the last quarter. Flinton Capital Management LLC boosted its stake in shares of Dril-Quip by 64.8% during the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock worth $198,000 after acquiring an additional 1,596 shares in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Dril-Quip during the 2nd quarter worth approximately $225,000.
A number of research firms recently issued reports on DRQ. BidaskClub lowered Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research lowered Dril-Quip from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $38.00 target price on shares of Dril-Quip in a research note on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Finally, Cowen and Company reduced their target price on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $49.88.
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Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter was down 18.8% compared to the same quarter last year. analysts anticipate that Dril-Quip, Inc. will post 0.18 earnings per share for the current year.
In other Dril-Quip news, insider Blake T. Deberry sold 14,819 shares of the stock in a transaction on Monday, October 30th. The stock was 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 approximately $4,695,630.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James C. Webster sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total value of $86,980.00. Following the transaction, the vice president now directly owns 24,104 shares in the company, valued at approximately $1,048,282.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,662 shares of company stock worth $1,567,399. Corporate insiders own 0.87% of the company’s stock.
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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