Two Sigma Advisers LP Acquires 121,979 Shares of Dril-Quip, Inc. (DRQ)
Two Sigma Advisers LP increased its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 72.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,881 shares of the oil and gas company’s stock after buying an additional 121,979 shares during the period. Two Sigma Advisers LP owned about 0.77% of Dril-Quip worth $13,875,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Dril-Quip in the 3rd quarter worth about $136,000. Unison Advisors LLC purchased a new stake in shares of Dril-Quip in the 4th quarter worth about $212,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Dril-Quip in the 4th quarter worth about $246,000. ING Groep NV boosted its position in shares of Dril-Quip by 23.3% in the 4th quarter. ING Groep NV now owns 5,713 shares of the oil and gas company’s stock worth $273,000 after buying an additional 1,079 shares in the last quarter. Finally, Wrapmanager Inc. purchased a new stake in shares of Dril-Quip in the 4th quarter worth about $328,000.
DRQ has been the topic of several recent research reports. Zacks Investment Research lowered shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Barclays set a $49.00 price objective on shares of Dril-Quip and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. ValuEngine lowered shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Cowen set a $45.00 price objective on shares of Dril-Quip and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, TheStreet upgraded shares of Dril-Quip from a “d+” rating to a “c-” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.38.
Dril-Quip (NYSE:DRQ) last announced its earnings results on Tuesday, February 27th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Dril-Quip had a negative net margin of 22.10% and a positive return on equity of 0.56%. The firm had revenue of $107.97 million during the quarter, compared to analyst estimates of $99.73 million. During the same period in the previous year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. research analysts anticipate that Dril-Quip, Inc. will post 0.08 earnings per share for the current year.
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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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