Quadrature Capital Ltd Boosts Holdings in Dril-Quip, Inc. (NYSE:DRQ)

Quadrature Capital Ltd raised its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,443 shares of the oil and gas company’s stock after purchasing an additional 1,612 shares during the quarter. Quadrature Capital Ltd owned 0.07% of Dril-Quip worth $569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DRQ. PNC Financial Services Group Inc. raised its holdings in shares of Dril-Quip by 252.6% in the third quarter. PNC Financial Services Group Inc. now owns 6,942 shares of the oil and gas company’s stock valued at $196,000 after acquiring an additional 4,973 shares in the last quarter. CoreCommodity Management LLC purchased a new stake in Dril-Quip in the 4th quarter worth approximately $229,000. Profund Advisors LLC purchased a new stake in Dril-Quip in the 3rd quarter worth approximately $259,000. SageView Advisory Group LLC purchased a new stake in Dril-Quip in the 4th quarter worth approximately $317,000. Finally, Dark Forest Capital Management LP purchased a new stake in Dril-Quip in the 3rd quarter worth approximately $320,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI reduced their target price on Dril-Quip from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. StockNews.com upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Barclays lowered their price target on Dril-Quip from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday, May 14th.

Insider Transactions at Dril-Quip

In other news, VP James C. Webster sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $92,640.00. Following the sale, the vice president now owns 62,735 shares of the company’s stock, valued at approximately $1,452,942.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP James C. Webster sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $92,640.00. Following the sale, the vice president now owns 62,735 shares of the company’s stock, valued at approximately $1,452,942.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey J. Bird sold 7,500 shares of Dril-Quip stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $23.14, for a total value of $173,550.00. Following the transaction, the chief executive officer now directly owns 155,327 shares in the company, valued at approximately $3,594,266.78. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Dril-Quip Price Performance

Shares of Dril-Quip stock opened at $18.19 on Friday. The stock has a market capitalization of $626.10 million, a price-to-earnings ratio of -28.42 and a beta of 0.91. The business has a 50-day moving average of $18.72 and a 200 day moving average of $20.94. Dril-Quip, Inc. has a 12 month low of $16.64 and a 12 month high of $30.93.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter. The company had revenue of $110.30 million during the quarter. Dril-Quip had a negative net margin of 4.89% and a negative return on equity of 2.98%. Equities research analysts anticipate that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for offshore and onshore applications worldwide. The company's principal products include subsea and surface wellheads, specialty connectors and associated pipes, subsea production trees and systems, mudline hanger systems, production riser systems, dry tree systems, subsea manifolds, line hangers and expandable liner systems, multi-frac well connections, conventional wellheads, thermal wellheads, completion packers, and safety and kelly valves; and rig equipment comprises drilling riser systems, wellhead connectors, diverters, and cement manifolds.