Credit Suisse AG increased its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,526 shares of the oil and gas company’s stock after buying an additional 1,271 shares during the period. Credit Suisse AG owned approximately 0.15% of Dril-Quip worth $3,192,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its stake in shares of Dril-Quip by 8.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,390 shares of the oil and gas company’s stock valued at $384,000 after buying an additional 490 shares during the period. Norges Bank purchased a new position in shares of Dril-Quip during the fourth quarter worth about $24,435,000. UBS Asset Management Americas Inc. raised its position in shares of Dril-Quip by 34.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 70,840 shares of the oil and gas company’s stock worth $4,253,000 after buying an additional 18,059 shares during the period. Bank of Montreal Can raised its position in shares of Dril-Quip by 38.4% in the first quarter. Bank of Montreal Can now owns 22,424 shares of the oil and gas company’s stock worth $1,223,000 after buying an additional 6,217 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Dril-Quip by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the oil and gas company’s stock worth $518,000 after buying an additional 200 shares during the period.
Dril-Quip, Inc. (DRQ) traded up 0.67% during trading on Friday, hitting $37.50. 466,902 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $45.98 and its 200 day moving average price is $52.30. The stock has a market cap of $1.42 billion, a P/E ratio of 69.70 and a beta of 0.63. Dril-Quip, Inc. has a 12-month low of $36.75 and a 12-month high of $69.40.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $112.12 million. During the same quarter in the prior year, the company posted $0.96 EPS. The business’s revenue was down 10.2% on a year-over-year basis. Analysts anticipate that Dril-Quip, Inc. will post $0.12 earnings per share for the current fiscal year.
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A number of equities analysts have weighed in on DRQ shares. Cowen and Company reduced their price objective on 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. Barclays PLC cut Dril-Quip from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $77.00 to $57.00 in a research report on Monday, May 1st. BidaskClub cut Dril-Quip from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Scotiabank set a $61.00 price objective on Dril-Quip and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies set a $43.00 price objective on Dril-Quip and gave the stock a “hold” rating in a report on Saturday, July 29th. One 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. Dril-Quip has a consensus rating of “Hold” and a consensus price target 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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