Tocqueville Asset Management L.P. grew its stake in Dril-Quip, Inc. (NYSE:DRQ) by 8.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,364 shares of the oil and gas company’s stock after purchasing an additional 7,245 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.25% of Dril-Quip worth $4,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. QS Investors LLC grew its position in shares of Dril-Quip by 0.5% in the second quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 13 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Dril-Quip by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 33 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of 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 valued at $1,922,000 after acquiring an additional 114 shares in the last quarter. Commerce Bank raised its stake in shares of Dril-Quip by 3.1% in the second quarter. Commerce Bank now owns 5,125 shares of the oil and gas company’s stock valued at $250,000 after acquiring an additional 155 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Dril-Quip by 3.0% in the first quarter. Amalgamated Bank now owns 5,989 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 176 shares in the last quarter.
Several analysts have recently issued reports on DRQ shares. BidaskClub cut Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Gabelli began coverage on Dril-Quip in a report on Friday, October 20th. They issued a “hold” rating and a $43.00 target price on the stock. Cowen and Company set a $43.00 target price on Dril-Quip and gave the company a “hold” rating in a report on Friday, October 6th. Piper Jaffray Companies set a $43.00 target price on Dril-Quip and gave the company a “hold” rating in a report on Saturday, July 29th. Finally, FBR & Co reissued a “buy” rating on shares of Dril-Quip in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Dril-Quip presently has an average rating of “Hold” and a consensus price target of $49.88.
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Shares of Dril-Quip, Inc. (NYSE:DRQ) traded down $1.05 during mid-day trading on Wednesday, hitting $44.75. The company’s stock had a trading volume of 519,900 shares, compared to its average volume of 572,234. The stock has a market capitalization of $1,734.01, a price-to-earnings ratio of 109.05 and a beta of 0.68. Dril-Quip, Inc. has a 12 month low of $35.85 and a 12 month high of $69.40.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The business’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. equities research analysts forecast that Dril-Quip, Inc. will post 0.18 earnings per share for the current fiscal year.
In other Dril-Quip news, CFO Jeffrey J. Bird sold 1,931 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $80,117.19. Following the transaction, the chief financial officer now owns 24,719 shares of the company’s stock, valued at $1,025,591.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director A P. Shukis sold 613 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $42.80, for a total value of $26,236.40. Following the transaction, the director now directly owns 12,282 shares in the company, valued at approximately $525,669.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,662 shares of company stock worth $1,567,399. Corporate insiders own 0.87% of the company’s stock.
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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