Great Lakes Advisors LLC lessened its position in Dril-Quip, Inc. (NYSE:DRQ) by 57.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 72,469 shares of the oil and gas company’s stock after selling 98,735 shares during the period. Great Lakes Advisors LLC’s holdings in Dril-Quip were worth $3,323,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Dril-Quip by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,454,189 shares of the oil and gas company’s stock valued at $180,482,000 after acquiring an additional 20,778 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Dril-Quip by 0.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,696,808 shares of the oil and gas company’s stock valued at $50,955,000 after acquiring an additional 12,067 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Dril-Quip by 518.2% during the 1st quarter. JPMorgan Chase & Co. now owns 726,638 shares of the oil and gas company’s stock valued at $33,317,000 after acquiring an additional 609,104 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Dril-Quip by 1.3% during the 4th quarter. Macquarie Group Ltd. now owns 693,576 shares of the oil and gas company’s stock valued at $20,828,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Dril-Quip by 1.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 626,728 shares of the oil and gas company’s stock valued at $28,735,000 after acquiring an additional 7,100 shares in the last quarter.
DRQ has been the subject of several recent research reports. ValuEngine downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Zacks Investment Research downgraded shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Gabelli upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Cowen restated a “market perform” rating and set a $44.00 target price (up from $39.00) on shares of Dril-Quip in a report on Tuesday, April 30th. Finally, Barclays upgraded shares of Dril-Quip from an “underweight” rating to an “equal weight” rating and set a $38.84 target price for the company in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.64.
Shares of NYSE DRQ opened at $43.32 on Wednesday. The stock has a market cap of $1.52 billion, a PE ratio of -68.76 and a beta of 1.46. Dril-Quip, Inc. has a 12 month low of $26.62 and a 12 month high of $58.95.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $95.89 million. Dril-Quip had a negative return on equity of 1.88% and a negative net margin of 24.85%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) earnings per share. As a group, research analysts predict that Dril-Quip, Inc. will post 0.03 EPS for the current year.
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Dril-Quip Company Profile
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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