Citadel Advisors LLC Has $1.54 Million Holdings in Dril-Quip, Inc. (DRQ)
Citadel Advisors LLC boosted its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 605.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 34,835 shares of the oil and gas company’s stock after purchasing an additional 29,899 shares during the period. Citadel Advisors LLC owned approximately 0.09% of Dril-Quip worth $1,538,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in DRQ. Riverhead Capital Management LLC grew its position in shares of Dril-Quip by 66.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,663 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 1,063 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Dril-Quip during the 3rd quarter valued at about $136,000. QS Investors LLC grew its position in shares of Dril-Quip by 0.5% during the 2nd quarter. QS Investors LLC now owns 2,813 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 13 shares during the period. LS Investment Advisors LLC grew its position in shares of Dril-Quip by 17.6% during the 2nd quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after acquiring an additional 450 shares during the period. Finally, Flinton Capital Management LLC grew its position in shares of Dril-Quip by 64.8% during the 2nd quarter. Flinton Capital Management LLC now owns 4,060 shares of the oil and gas company’s stock valued at $198,000 after acquiring an additional 1,596 shares during the period.
A number of equities research analysts have recently commented on the company. B. Riley restated a “buy” rating on shares of Dril-Quip in a research report on Wednesday, November 1st. Cowen restated a “market perform” rating and set a $39.00 target price (down from $43.00) on shares of Dril-Quip in a research report on Monday, October 30th. Wolfe Research upgraded Dril-Quip from an “underperform” rating to a “market perform” rating in a research report on Tuesday, October 31st. BidaskClub lowered shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.57.
Dril-Quip, Inc. (NYSE:DRQ) opened at $44.05 on Thursday. The firm has a market cap of $1,743.48, a PE ratio of 109.64 and a beta of 0.73. Dril-Quip, Inc. has a 12 month low of $35.85 and a 12 month high of $69.40.
Dril-Quip (NYSE:DRQ) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. The firm had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. Dril-Quip’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. analysts predict that Dril-Quip, Inc. will post 0.18 EPS for the current year.
In other Dril-Quip news, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total value of $446,600.00. Following the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James C. Webster sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total transaction of $86,980.00. Following the completion of the transaction, the vice president now directly owns 24,104 shares in the company, valued at $1,048,282.96. The disclosure for this sale can be found here. Insiders sold a total of 47,662 shares of company stock worth $2,013,999 over the last three months. Corporate insiders own 0.87% of the company’s stock.
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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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