Truist Financial Corp Sells 977 Shares of Dril-Quip, Inc. (NYSE:DRQ)

Truist Financial Corp decreased its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ – Get Rating) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,031 shares of the oil and gas company’s stock after selling 977 shares during the quarter. Truist Financial Corp owned 0.15% of Dril-Quip worth $1,016,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in Dril-Quip during the 1st quarter valued at approximately $37,000. US Bancorp DE lifted its holdings in shares of Dril-Quip by 172.1% in the 1st quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 654 shares in the last quarter. Group One Trading L.P. lifted its stake in Dril-Quip by 124.7% during the 1st quarter. Group One Trading L.P. now owns 1,428 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 7,213 shares in the last quarter. KBC Group NV bought a new position in Dril-Quip during the 2nd quarter valued at $84,000. Finally, Mutual of America Capital Management LLC lifted its stake in Dril-Quip by 13.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 5,798 shares of the oil and gas company’s stock valued at $150,000 after acquiring an additional 699 shares in the last quarter.

Dril-Quip Trading Up 1.0 %

Shares of NYSE:DRQ opened at $27.45 on Friday. The stock’s fifty day simple moving average is $25.40 and its two-hundred day simple moving average is $23.95. Dril-Quip, Inc. has a 1-year low of $19.10 and a 1-year high of $41.23. The stock has a market cap of $931.10 million, a PE ratio of -15.34 and a beta of 1.13.

Dril-Quip (NYSE:DRQ – Get Rating) last announced its earnings results on Thursday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.13. Dril-Quip had a negative return on equity of 3.20% and a negative net margin of 18.28%. The firm had revenue of $88.14 million during the quarter, compared to analyst estimates of $91.93 million. During the same period last year, the firm posted ($0.35) EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that Dril-Quip, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Dril-Quip in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

Insider Activity

In other news, VP Donald M. Underwood sold 1,971 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $24.43, for a total transaction of $48,151.53. Following the completion of the sale, the vice president now directly owns 18,215 shares of the company’s stock, valued at approximately $444,992.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Dril-Quip news, VP James C. Webster sold 2,000 shares of Dril-Quip stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $26.22, for a total value of $52,440.00. Following the transaction, the vice president now directly owns 58,795 shares of the company’s stock, valued at approximately $1,541,604.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald M. Underwood sold 1,971 shares of Dril-Quip stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $24.43, for a total value of $48,151.53. Following the completion of the transaction, the vice president now directly owns 18,215 shares in the company, valued at $444,992.45. The disclosure for this sale can be found here. Insiders sold a total of 29,387 shares of company stock valued at $727,591 in the last ninety days. 2.02% of the stock is currently owned by insiders.

Dril-Quip Profile

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Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. The company's principal products include subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools.