Speece Thorson Capital Group Inc. raised its position in shares of Dril-Quip Inc. (NYSE:DRQ) by 9.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 209,087 shares of the company’s stock after buying an additional 18,071 shares during the period. Dril-Quip makes up about 2.7% of Speece Thorson Capital Group Inc.’s portfolio, making the stock its 20th largest position. Speece Thorson Capital Group Inc.’s holdings in Dril-Quip were worth $12,217,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in DRQ. LS Investment Advisors LLC increased its stake in Dril-Quip by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,281 shares of the company’s stock worth $133,000 after buying an additional 968 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Dril-Quip during the second quarter worth about $202,000. Huntington Asset Advisors Inc. purchased a new stake in shares of Dril-Quip during the first quarter worth about $212,000. Legal & General Group Plc increased its stake in shares of Dril-Quip by 2.6% in the first quarter. Legal & General Group Plc now owns 3,949 shares of the company’s stock worth $239,000 after buying an additional 99 shares in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Dril-Quip during the first quarter worth about $284,000.
Shares of Dril-Quip Inc. (NYSE:DRQ) traded up 0.55% during trading on Monday, reaching $51.64. 510,486 shares of the company’s stock traded hands. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.41 and a beta of 0.90. Dril-Quip Inc. has a 1-year low of $48.88 and a 1-year high of $68.69. The stock has a 50-day moving average of $55.41 and a 200-day moving average of $58.45.
Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.29. Dril-Quip had a net margin of 24.16% and a return on equity of 10.92%. The company had revenue of $142.40 million for the quarter, compared to the consensus estimate of $149.33 million. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The company’s revenue for the quarter was down 33.8% compared to the same quarter last year. On average, equities analysts predict that Dril-Quip Inc. will post $2.17 EPS for the current fiscal year.
A number of analysts have recently issued reports on DRQ shares. JPMorgan Chase & Co. started coverage on shares of Dril-Quip in a report on Wednesday, June 22nd. They set a “neutral” rating and a $53.00 price target for the company. Zacks Investment Research downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Howard Weil cut their price target on shares of Dril-Quip from $72.00 to $67.00 and set a “sector perform” rating for the company in a report on Friday, July 29th. Scotiabank restated a “sector perform” rating and set a $67.00 price target (down previously from $72.00) on shares of Dril-Quip in a report on Sunday, July 31st. Finally, Morgan Stanley restated a “hold” rating and set a $73.00 price target on shares of Dril-Quip in a report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.33.
Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered offshore drilling and production equipment. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters.
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