Dril-Quip, Inc. (DRQ) Shares Sold by Capital Fund Management S.A.

Capital Fund Management S.A. cut its stake in Dril-Quip, Inc. (NYSE:DRQ) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,005 shares of the oil and gas company’s stock after selling 1,566 shares during the quarter. Capital Fund Management S.A. owned 0.09% of Dril-Quip worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in DRQ. Bank of Montreal Can grew its stake in shares of Dril-Quip by 38.4% in the first quarter. Bank of Montreal Can now owns 22,424 shares of the oil and gas company’s stock worth $1,223,000 after acquiring an additional 6,217 shares during the period. Louisiana State Employees Retirement System grew its position in Dril-Quip by 2.2% during the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the oil and gas company’s stock valued at $518,000 after buying an additional 200 shares during the period. Acadian Asset Management LLC bought a new stake in Dril-Quip during the first quarter valued at approximately $483,000. Oregon Public Employees Retirement Fund grew its position in Dril-Quip by 1.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,267 shares of the oil and gas company’s stock valued at $724,000 after buying an additional 200 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Dril-Quip by 8.7% during the first quarter. Canada Pension Plan Investment Board now owns 13,800 shares of the oil and gas company’s stock valued at $753,000 after buying an additional 1,100 shares during the period.

Several analysts recently issued reports on the stock. BidaskClub upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Piper Jaffray Companies set a $43.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a research report on Saturday, July 29th. Scotiabank set a $61.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a research report on Monday, July 31st. Finally, Cowen and Company cut their target price on shares of Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $56.00.

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Dril-Quip, Inc. (NYSE DRQ) opened at 43.35 on Friday. Dril-Quip, Inc. has a 52-week low of $35.85 and a 52-week high of $69.40. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 80.58 and a beta of 0.67. The firm has a 50 day moving average of $40.38 and a 200-day moving average of $49.17.

Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $112.12 million. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. Dril-Quip’s revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Equities analysts expect that Dril-Quip, Inc. will post $0.11 EPS for the current year.

Dril-Quip Profile

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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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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