Thrivent Financial for Lutherans Sells 1,080 Shares of Dril-Quip, Inc. (NYSE:DRQ)

Thrivent Financial for Lutherans cut its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,574 shares of the oil and gas company’s stock after selling 1,080 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Dril-Quip worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Partnership Wealth Management LLC raised its stake in Dril-Quip by 6.8% in the second quarter. Partnership Wealth Management LLC now owns 21,381 shares of the oil and gas company’s stock worth $398,000 after buying an additional 1,360 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Dril-Quip by 7.1% in the fourth quarter. Quadrature Capital Ltd now owns 24,443 shares of the oil and gas company’s stock valued at $569,000 after purchasing an additional 1,612 shares in the last quarter. CWM LLC lifted its holdings in shares of Dril-Quip by 564.0% in the 2nd quarter. CWM LLC now owns 2,696 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 2,290 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Dril-Quip by 37.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,511 shares of the oil and gas company’s stock worth $221,000 after purchasing an additional 2,569 shares during the period. Finally, Kings Path Partners LLC purchased a new position in shares of Dril-Quip during the 2nd quarter worth about $52,000.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Dril-Quip in a research note on Friday, October 4th. They set a “sell” rating for the company.

Insider Activity

In other news, VP James C. Webster sold 6,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the completion of the sale, the vice president now owns 56,735 shares of the company’s stock, valued at $832,302.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Dril-Quip Price Performance

Shares of DRQ stock opened at $15.41 on Wednesday. The company has a market cap of $530.41 million, a P/E ratio of -24.08 and a beta of 0.84. The stock’s 50-day moving average is $15.96 and its 200 day moving average is $18.66. Dril-Quip, Inc. has a 1-year low of $14.07 and a 1-year high of $30.93.

Dril-Quip (NYSE:DRQ) last released its earnings results on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.07). Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.49%. The firm had revenue of $120.34 million during the quarter, compared to analyst estimates of $118.85 million. During the same period in the previous year, the company earned ($0.03) earnings per share. Dril-Quip’s revenue was up 34.3% on a year-over-year basis. On average, analysts anticipate that Dril-Quip, Inc. will post 0.45 EPS 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.