Gabelli Funds LLC decreased its position in Dril-Quip, Inc. (NYSE:DRQ) by 37.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,000 shares of the oil and gas company’s stock after selling 39,000 shares during the period. Gabelli Funds LLC’s holdings in Dril-Quip were worth $3,312,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. Kavar Capital Partners LLC bought a new position in shares of Dril-Quip during the 2nd quarter valued at approximately $27,000. NumerixS Investment Technologies Inc grew its position in shares of Dril-Quip by 450.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 900 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Dril-Quip during the 2nd quarter valued at approximately $62,000. Russell Investments Group Ltd. bought a new position in shares of Dril-Quip during the 3rd quarter valued at approximately $113,000. Finally, ARP Americas LP bought a new position in shares of Dril-Quip during the 3rd quarter valued at approximately $271,000.
A number of research analysts have recently weighed in on DRQ shares. Zacks Investment Research downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating and set a $55.00 target price for the company. in a research report on Monday, July 29th. B. Riley increased their target price on shares of Dril-Quip from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Morgan Stanley reduced their target price on shares of Dril-Quip from $45.00 to $42.00 and set an “underweight” rating for the company in a research report on Tuesday, October 8th. ValuEngine downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, TheStreet raised shares of Dril-Quip from a “d+” rating to a “c-” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Dril-Quip presently has a consensus rating of “Hold” and a consensus target price of $46.17.
In related news, VP James C. Webster sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $48.90, for a total value of $293,400.00. Following the completion of the transaction, the vice president now directly owns 36,600 shares of the company’s stock, valued at approximately $1,789,740. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Blake T. Deberry sold 29,086 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $43.59, for a total transaction of $1,267,858.74. Following the completion of the transaction, the chief executive officer now directly owns 170,681 shares of the company’s stock, valued at $7,439,984.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,981 shares of company stock valued at $2,669,275. 0.97% of the stock is owned by insiders.
Shares of Dril-Quip stock traded up $0.35 on Friday, reaching $45.23. 212,351 shares of the company traded hands, compared to its average volume of 430,073. The company has a 50 day moving average of $48.08 and a 200 day moving average of $46.22. The firm has a market capitalization of $1.63 billion, a PE ratio of -71.79 and a beta of 1.47. Dril-Quip, Inc. has a 52 week low of $26.62 and a 52 week high of $56.71.
Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.19). The business had revenue of $108.23 million during the quarter, compared to the consensus estimate of $103.17 million. Dril-Quip had a negative return on equity of 0.58% and a negative net margin of 19.96%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. Equities research analysts predict that Dril-Quip, Inc. will post 0.12 EPS for the current year.
Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.
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