Dril-Quip, Inc. (DRQ) Stake Lowered by Victory Capital Management Inc.
Victory Capital Management Inc. decreased its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 98.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,818 shares of the oil and gas company’s stock after selling 254,168 shares during the quarter. Victory Capital Management Inc.’s holdings in Dril-Quip were worth $138,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of DRQ. LS Investment Advisors LLC grew its holdings in shares of Dril-Quip by 17.6% during the second quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 450 shares during the last quarter. ING Groep NV bought a new position in Dril-Quip during the second quarter valued at approximately $225,000. Advantus Capital Management Inc lifted its position in Dril-Quip by 3.6% during the first quarter. Advantus Capital Management Inc now owns 4,840 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 170 shares during the period. Segantii Capital Management Ltd bought a new position in Dril-Quip during the first quarter valued at approximately $273,000. Finally, NN Investment Partners Holdings N.V. lifted its position in Dril-Quip by 24.4% during the second quarter. NN Investment Partners Holdings N.V. now owns 6,480 shares of the oil and gas company’s stock valued at $316,000 after purchasing an additional 1,270 shares during the period.
Shares of Dril-Quip, Inc. (NYSE:DRQ) opened at 43.50 on Tuesday. Dril-Quip, Inc. has a 52-week low of $35.85 and a 52-week high of $69.40. The firm’s 50-day moving average is $40.05 and its 200 day moving average is $48.62. The stock has a market cap of $1.65 billion, a P/E ratio of 80.86 and a beta of 0.67.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $112.12 million. Dril-Quip had a net margin of 4.28% and a return on equity of 2.12%. The company’s revenue for the quarter 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. Analysts forecast that Dril-Quip, Inc. will post $0.11 earnings per share for the current fiscal year.
Several research analysts have weighed in on the stock. BidaskClub downgraded shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Piper Jaffray Companies set a $43.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Saturday, July 29th. Scotiabank set a $61.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a research note on Monday, July 31st. Finally, Cowen and Company cut their target price on shares of 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. One investment 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 company presently has a consensus rating of “Hold” and an average 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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