State Treasurer State of Michigan raised its position in Dril-Quip, Inc. (NYSE:DRQ) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 15,600 shares of the oil and gas company’s stock after buying an additional 200 shares during the period. State Treasurer State of Michigan’s holdings in Dril-Quip were worth $761,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of DRQ. Northwestern Mutual Investment Management Company LLC raised its position in Dril-Quip by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,515 shares of the oil and gas company’s stock worth $355,000 after buying an additional 38 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Dril-Quip by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 35,235 shares of the oil and gas company’s stock worth $1,922,000 after buying an additional 114 shares in the last quarter. Advantus Capital Management Inc raised its position in Dril-Quip by 3.6% in the first quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock worth $264,000 after buying an additional 170 shares in the last quarter. Amalgamated Bank raised its position in Dril-Quip by 3.0% in the first quarter. Amalgamated Bank now owns 5,989 shares of the oil and gas company’s stock worth $327,000 after buying an additional 176 shares in the last quarter. Finally, Commerce Bank raised its position in Dril-Quip by 4.1% in the first quarter. Commerce Bank now owns 4,970 shares of the oil and gas company’s stock worth $271,000 after buying an additional 195 shares in the last quarter.

Dril-Quip, Inc. (NYSE:DRQ) traded down 2.50% during trading on Wednesday, hitting $40.90. 103,849 shares of the stock traded hands. Dril-Quip, Inc. has a 12 month low of $40.75 and a 12 month high of $69.40. The stock has a market cap of $1.55 billion, a P/E ratio of 76.02 and a beta of 0.63. The firm’s 50-day moving average is $48.70 and its 200-day moving average is $53.93.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The firm had revenue of $127.90 million during the quarter, compared to the consensus estimate of $112.12 million. During the same period last year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, analysts forecast that Dril-Quip, Inc. will post $0.10 EPS for the current year.

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A number of research firms have issued reports on DRQ. BidaskClub raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Piper Jaffray Companies set a $43.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a report on Saturday, July 29th. Scotiabank set a $61.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a report on Monday, July 31st. Finally, Barclays PLC lowered shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $77.00 to $57.00 in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.00.

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

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