Jane Street Group LLC bought a new stake in shares of Dril-Quip, Inc. (NYSE:DRQ) during the first quarter, Holdings Channel reports. The fund bought 20,147 shares of the oil and gas company’s stock, valued at approximately $1,099,000.
Several other institutional investors have also bought and sold shares of DRQ. State Street Corp boosted its position in Dril-Quip by 2.7% in the first quarter. State Street Corp now owns 1,180,848 shares of the oil and gas company’s stock valued at $64,416,000 after buying an additional 31,362 shares during the period. Bank of America Corp DE boosted its position in Dril-Quip by 25.8% in the first quarter. Bank of America Corp DE now owns 371,478 shares of the oil and gas company’s stock valued at $20,264,000 after buying an additional 76,266 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Dril-Quip during the first quarter valued at about $329,000. Dean Capital Management boosted its position in Dril-Quip by 14.5% in the first quarter. Dean Capital Management now owns 38,909 shares of the oil and gas company’s stock valued at $2,123,000 after buying an additional 4,935 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Dril-Quip by 14.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 167,774 shares of the oil and gas company’s stock valued at $9,153,000 after buying an additional 21,549 shares during the period.
Dril-Quip, Inc. (NYSE DRQ) traded down 1.64% during midday trading on Friday, hitting $48.00. The company had a trading volume of 468,468 shares. Dril-Quip, Inc. has a 52 week low of $46.90 and a 52 week high of $69.40. The company has a market capitalization of $1.82 billion, a P/E ratio of 32.02 and a beta of 0.69. The stock has a 50 day moving average price of $51.49 and a 200 day moving average price of $56.86.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by $0.01. Dril-Quip had a return on equity of 3.65% and a net margin of 11.51%. The business had revenue of $119.23 million during the quarter, compared to analysts’ expectations of $97.62 million. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s quarterly revenue was down 28.4% compared to the same quarter last year. Equities analysts forecast that Dril-Quip, Inc. will post $0.14 earnings per share for the current fiscal year.
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Several research firms have recently issued reports on DRQ. BidaskClub raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $77.00 to $57.00 in a research note on Monday, May 1st. Scotiabank set a $65.00 target price on Dril-Quip and gave the company a “hold” rating in a research note on Thursday, March 2nd. Finally, Guggenheim cut Dril-Quip from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 1st. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.29.
Dril-Quip Company Profile
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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