Dril-Quip (DRQ) : Texan Capital Management reduced its stake in Dril-Quip by 0.13% during the most recent quarter end. The investment management company now holds a total of 150,000 shares of Dril-Quip which is valued at $8,214,000 after selling 200 shares in Dril-Quip , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Dril-Quip makes up approximately 3.72% of Texan Capital Management’s portfolio.
Other Hedge Funds, Including , Utah Retirement Systems reduced its stake in DRQ by selling 100 shares or 1.43% in the most recent quarter. The Hedge Fund company now holds 6,900 shares of DRQ which is valued at $377,844. Dril-Quip makes up approx 0.01% of Utah Retirement Systems’s portfolio.Ftb Advisors reduced its stake in DRQ by selling 10 shares or 5.41% in the most recent quarter. The Hedge Fund company now holds 175 shares of DRQ which is valued at $9,525. Nordea Investment Management Ab added DRQ to its portfolio by purchasing 10,243 company shares during the most recent quarter which is valued at $591,431.
Dril-Quip opened for trading at $56.83 and hit $57.59 on the upside on Monday, eventually ending the session at $57.42, with a gain of 1.99% or 1.12 points. The heightened volatility saw the trading volume jump to 3,06,565 shares. Company has a market cap of $2,157 M.
On the company’s financial health, Dril-Quip reported $0.96 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.67. The company had revenue of $142.44 million for the quarter, compared to analysts expectations of $149.21 million. The company’s revenue was down -33.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.
Many Wall Street Analysts have commented on Dril-Quip. Shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Perform” and Lowered the Price Target to $ 67 from a previous price target of $72 .JP Morgan Initiated Dril-Quip on Jun 22, 2016 to “Neutral”, Price Target of the shares are set at $53.
Dril-Quip Inc. designs manufactures sells and services engineered offshore drilling and production equipment. The Company’s equipment is suited for use in deepwater harsh environments and service applications. The Company’s operates in Western Hemisphere including North and South America; Eastern Hemisphere including Europe and Africa and Asia-Pacific including the Pacific Rim Southeast Asia Australia India and the Middle East. It products include subsea equipment surface equipment and offshore rig equipment. Its products are used to explore for oil and gas from offshore drilling rigs such as floating rigs and jack-up rigs and for drilling and production of oil and gas wells on offshore platforms TLPs Spars and moored vessels such as FPSOs. Its services include technical advisory assistance services reconditioning of its customer-owned products and rental of running tools for installation and retrieval of its products.