Raymond James & Associates Makes New $2.65 Million Investment in Dril-Quip, Inc. (NYSE:DRQ)

Raymond James & Associates purchased a new position in Dril-Quip, Inc. (NYSE:DRQ – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 135,978 shares of the oil and gas company’s stock, valued at approximately $2,654,000. Raymond James & Associates owned about 0.40% of Dril-Quip as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in shares of Dril-Quip in the first quarter worth $37,000. US Bancorp DE increased its stake in Dril-Quip by 172.1% in the first quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 654 shares during the last quarter. Group One Trading L.P. increased its stake in Dril-Quip by 124.7% in the first quarter. Group One Trading L.P. now owns 1,428 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 7,213 shares during the last quarter. KBC Group NV acquired a new position in Dril-Quip in the second quarter valued at $84,000. Finally, Captrust Financial Advisors increased its stake in Dril-Quip by 109.5% in the first quarter. Captrust Financial Advisors now owns 5,689 shares of the oil and gas company’s stock valued at $212,000 after purchasing an additional 2,973 shares during the last quarter.

Insider Transactions at Dril-Quip

In other news, VP Donald M. Underwood sold 1,971 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 18,215 shares of the company’s stock, valued at $444,992.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Donald M. Underwood sold 1,971 shares of the stock in a transaction dated 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 owns 18,215 shares of the company’s stock, valued at $444,992.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Terence Bartlett Jupp sold 1,487 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $24.43, for a total value of $36,327.41. Following the completion of the transaction, the director now directly owns 52,195 shares of the company’s stock, valued at approximately $1,275,123.85. The disclosure for this sale can be found here. Insiders sold 29,387 shares of company stock valued at $727,591 over the last quarter. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Dril-Quip in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Dril-Quip Price Performance

Shares of NYSE:DRQ opened at $28.08 on Friday. The firm has a market capitalization of $952.47 million, a PE ratio of -15.69 and a beta of 1.13. The business has a 50-day moving average of $25.43 and a two-hundred day moving average of $23.97. Dril-Quip, Inc. has a 12 month low of $19.10 and a 12 month high of $41.23.

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

Dril-Quip Company Profile

(Get Rating)

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.