Empirical Finance LLC purchased a new stake in shares of Dril-Quip, Inc. (NYSE:DRQ) during the fourth quarter, Holdings Channel reports. The fund purchased 18,668 shares of the company’s stock, valued at approximately $1,122,000. Dril-Quip accounts for 0.8% of Empirical Finance LLC’s holdings, making the stock its 29th largest position.
Several other hedge funds have also recently bought and sold shares of the stock. LS Investment Advisors LLC raised its position in shares of Dril-Quip by 5.7% in the third quarter. LS Investment Advisors LLC now owns 2,411 shares of the company’s stock valued at $134,000 after buying an additional 130 shares in the last quarter. KBC Group NV raised its position in shares of Dril-Quip by 647.0% in the third quarter. KBC Group NV now owns 3,354 shares of the company’s stock valued at $187,000 after buying an additional 2,905 shares in the last quarter. 1st Global Advisors Inc. bought a new position in shares of Dril-Quip during the third quarter valued at approximately $209,000. Legal & General Group Plc raised its position in shares of Dril-Quip by 5.0% in the second quarter. Legal & General Group Plc now owns 4,148 shares of the company’s stock valued at $242,000 after buying an additional 199 shares in the last quarter. Finally, Calamos Advisors LLC bought a new position in shares of Dril-Quip during the fourth quarter valued at approximately $265,000.
Dril-Quip, Inc. (NYSE:DRQ) traded up 2.90% on Tuesday, hitting $65.75. 394,016 shares of the company were exchanged. Dril-Quip, Inc. has a 52-week low of $46.90 and a 52-week high of $69.40. The firm has a 50 day moving average of $62.44 and a 200-day moving average of $57.00. The stock has a market cap of $2.47 billion, a PE ratio of 17.67 and a beta of 0.73.
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Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Dril-Quip from a “hold” rating to a “sell” rating in a report on Wednesday, December 28th. Howard Weil decreased their price objective on shares of Dril-Quip from $67.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, October 27th. Evercore ISI assumed coverage on shares of Dril-Quip in a report on Thursday, November 17th. They issued a “buy” rating and a $59.00 price objective on the stock. Cowen and Company restated a “market perform” rating and issued a $60.00 price objective on shares of Dril-Quip in a report on Tuesday, October 18th. Finally, Scotiabank restated a “sector perform” rating and issued a $59.00 price objective (down from $67.00) on shares of Dril-Quip in a report on Thursday, October 27th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $61.00.
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered offshore drilling and production equipment. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters.
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