ING Groep NV purchased a new position in shares of Dril-Quip, Inc. (NYSE:DRQ) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,603 shares of the oil and gas company’s stock, valued at approximately $225,000.

A number of other hedge funds also recently made changes to their positions in DRQ. Tyers Asset Management LLC boosted its position in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock worth $106,000 after buying an additional 308 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock worth $109,000 after buying an additional 944 shares in the last quarter. Flinton Capital Management LLC boosted its position in Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock worth $134,000 after buying an additional 392 shares in the last quarter. LS Investment Advisors LLC boosted its position in Dril-Quip by 17.6% in the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock worth $147,000 after buying an additional 450 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its position in Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock worth $163,000 after buying an additional 476 shares in the last quarter.

Dril-Quip, Inc. (DRQ) traded down 1.95% during midday trading on Friday, hitting $40.15. 517,567 shares of the stock traded hands. The firm has a market cap of $1.52 billion, a P/E ratio of 74.63 and a beta of 0.63. The company’s 50-day moving average is $47.46 and its 200 day moving average is $53.17. Dril-Quip, Inc. has a 12-month low of $40.10 and a 12-month high of $69.40.

Dril-Quip (NYSE:DRQ) last announced its 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. The company had revenue of $127.90 million during the quarter, compared to analyst estimates of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. Dril-Quip’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. On average, analysts anticipate that Dril-Quip, Inc. will post $0.10 EPS for the current fiscal year.

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A number of equities analysts recently commented on the stock. BidaskClub cut shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research note on Thursday. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Monday, July 31st. Cowen and Company dropped their price target on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research note on Monday, July 31st. Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Finally, Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.

About Dril-Quip

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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