Dril-Quip, Inc. (DRQ) Stake Increased by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC increased its stake in Dril-Quip, Inc. (NYSE:DRQ) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,317 shares of the oil and gas company’s stock after buying an additional 1,360 shares during the period. Janney Montgomery Scott LLC’s holdings in Dril-Quip were worth $1,040,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of DRQ. BB&T Corp raised its position in shares of Dril-Quip by 11.1% in the first quarter. BB&T Corp now owns 6,623 shares of the oil and gas company’s stock valued at $362,000 after buying an additional 664 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Dril-Quip by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,267 shares of the oil and gas company’s stock valued at $724,000 after buying an additional 200 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Dril-Quip by 6.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 109,449 shares of the oil and gas company’s stock valued at $5,970,000 after buying an additional 6,400 shares during the period. First Quadrant L P CA increased its stake in shares of Dril-Quip by 2.3% in the first quarter. First Quadrant L P CA now owns 474,734 shares of the oil and gas company’s stock valued at $25,897,000 after buying an additional 10,462 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Dril-Quip during the first quarter valued at about $483,000.
Shares of Dril-Quip, Inc. (NYSE:DRQ) opened at 40.15 on Friday. Dril-Quip, Inc. has a one year low of $40.10 and a one year high of $69.40. The stock has a market cap of $1.52 billion, a P/E ratio of 74.63 and a beta of 0.63. The firm has a 50 day moving average of $47.46 and a 200 day moving average of $53.17.
Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. The business had revenue of $127.90 million for the quarter, compared to the consensus estimate of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. On average, equities research analysts predict that Dril-Quip, Inc. will post $0.10 EPS for the current fiscal year.
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Several brokerages have issued reports on DRQ. BidaskClub raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Barclays PLC downgraded shares of Dril-Quip from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $77.00 to $57.00 in a report on Monday, May 1st. Zacks Investment Research raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Cowen and Company reduced their price target on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating on the stock in a report on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 price target on shares of Dril-Quip and gave the company a “hold” rating in a report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.
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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