Truist Financial Corp decreased its holdings in Dril-Quip, Inc. (NYSE:DRQ – Free Report) by 46.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,516 shares of the oil and gas company’s stock after selling 14,362 shares during the quarter. Truist Financial Corp’s holdings in Dril-Quip were worth $384,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Brandes Investment Partners LP raised its position in shares of Dril-Quip by 36.8% during the 3rd quarter. Brandes Investment Partners LP now owns 2,206,515 shares of the oil and gas company’s stock worth $62,158,000 after purchasing an additional 593,982 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Dril-Quip by 0.9% in the third quarter. Gamco Investors INC. ET AL now owns 1,971,943 shares of the oil and gas company’s stock valued at $55,550,000 after acquiring an additional 16,900 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Dril-Quip by 2.2% in the third quarter. William Blair Investment Management LLC now owns 1,284,077 shares of the oil and gas company’s stock worth $36,172,000 after acquiring an additional 28,202 shares during the last quarter. Heartland Advisors Inc. increased its position in shares of Dril-Quip by 17.5% during the third quarter. Heartland Advisors Inc. now owns 872,949 shares of the oil and gas company’s stock worth $26,434,000 after purchasing an additional 130,085 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its position in shares of Dril-Quip by 365.7% during the third quarter. Ranger Investment Management L.P. now owns 697,659 shares of the oil and gas company’s stock worth $19,653,000 after purchasing an additional 547,859 shares in the last quarter.
Dril-Quip Trading Down 0.5 %
Shares of NYSE:DRQ opened at $19.25 on Monday. Dril-Quip, Inc. has a 52 week low of $17.80 and a 52 week high of $30.93. The company’s 50 day moving average is $21.32 and its two-hundred day moving average is $21.70. The company has a market cap of $662.59 million, a PE ratio of -30.08 and a beta of 0.90.
Dril-Quip (NYSE:DRQ – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported ($0.62) earnings per share (EPS) for the quarter. The business had revenue of $110.30 million for the quarter. Dril-Quip had a negative return on equity of 2.98% and a negative net margin of 4.89%. As a group, equities research analysts expect that Dril-Quip, Inc. will post 0.45 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have recently weighed in on DRQ shares. StockNews.com upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Friday, March 15th. 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. Finally, Evercore ISI decreased their target price on shares of Dril-Quip from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th.
View Our Latest Analysis on DRQ
Insider Activity
In related news, CEO Jeffrey J. Bird sold 7,500 shares of Dril-Quip stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.14, for a total transaction of $173,550.00. Following the sale, the chief executive officer now directly owns 155,327 shares in the company, valued at approximately $3,594,266.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP James C. Webster sold 4,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.16, for a total transaction of $92,640.00. Following the completion of the sale, the vice president now owns 62,735 shares in the company, valued at approximately $1,452,942.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey J. Bird sold 7,500 shares of Dril-Quip stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.14, for a total transaction of $173,550.00. Following the completion of the transaction, the chief executive officer now owns 155,327 shares in the company, valued at $3,594,266.78. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Dril-Quip 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.
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