London Co. of Virginia cut its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 26.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 314,544 shares of the oil and gas company’s stock after selling 110,424 shares during the period. London Co. of Virginia owned 0.88% of Dril-Quip worth $9,445,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Dril-Quip during the third quarter worth $243,000. NumerixS Investment Technologies Inc purchased a new stake in Dril-Quip during the fourth quarter worth $142,000. PEAK6 Investments LLC purchased a new stake in Dril-Quip during the third quarter worth $302,000. First Hawaiian Bank boosted its holdings in Dril-Quip by 10.4% during the fourth quarter. First Hawaiian Bank now owns 7,879 shares of the oil and gas company’s stock worth $236,000 after buying an additional 740 shares in the last quarter. Finally, Brasada Capital Management LP boosted its holdings in Dril-Quip by 61.9% during the third quarter. Brasada Capital Management LP now owns 8,094 shares of the oil and gas company’s stock worth $423,000 after buying an additional 3,094 shares in the last quarter.
DRQ opened at $43.86 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -69.62 and a beta of 1.49. Dril-Quip, Inc. has a 52-week low of $26.62 and a 52-week high of $58.95.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Tuesday, February 26th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.16. The business had revenue of $97.30 million for the quarter, compared to the consensus estimate of $87.05 million. Dril-Quip had a negative net margin of 24.88% and a negative return on equity of 2.17%. The company’s revenue was down 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. As a group, equities research analysts predict that Dril-Quip, Inc. will post -0.16 EPS for the current year.
A number of analysts recently issued reports on DRQ shares. JPMorgan Chase & Co. started coverage on shares of Dril-Quip in a report on Thursday, January 17th. They set a “neutral” rating on the stock. Barclays raised shares of Dril-Quip from an “underweight” rating to an “equal weight” rating and set a $38.84 price target on the stock in a report on Wednesday, February 20th. Finally, Zacks Investment Research downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Dril-Quip currently has a consensus rating of “Hold” and a consensus price target of $48.47.
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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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