American Century Companies Inc. Has $8.82 Million Stock Holdings in Dril-Quip, Inc. (NYSE:DRQ)

American Century Companies Inc. grew its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 43.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,373 shares of the oil and gas company’s stock after purchasing an additional 92,955 shares during the quarter. American Century Companies Inc. owned about 0.90% of Dril-Quip worth $8,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in DRQ. Quadrant Capital Group LLC lifted its stake in shares of Dril-Quip by 316.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,355 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 1,030 shares during the period. Geneos Wealth Management Inc. acquired a new position in Dril-Quip during the 1st quarter worth approximately $37,000. US Bancorp DE raised its stake in Dril-Quip by 172.1% during the 1st quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock worth $39,000 after buying an additional 654 shares during the period. Tower Research Capital LLC TRC raised its stake in Dril-Quip by 175.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,057 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,309 shares during the period. Finally, Group One Trading L.P. raised 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 worth $53,000 after buying an additional 7,213 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DRQ shares. StockNews.com started coverage on Dril-Quip in a research note on Thursday, August 17th. They set a “sell” rating on the stock. Barclays upped their price target on Dril-Quip from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Thursday, August 3rd.

Dril-Quip Stock Up 4.3 %

Shares of Dril-Quip stock opened at $28.76 on Monday. The company has a market cap of $982.87 million, a PE ratio of 47.93 and a beta of 1.05. Dril-Quip, Inc. has a 52 week low of $19.10 and a 52 week high of $35.95. The business has a 50 day moving average price of $26.03 and a 200-day moving average price of $26.79.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Monday, July 31st. The oil and gas company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). The company had revenue of $89.60 million during the quarter, compared to analysts’ expectations of $96.89 million. Dril-Quip had a return on equity of 0.26% and a net margin of 5.68%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. As a group, research analysts anticipate that Dril-Quip, Inc. will post 0.16 EPS for the current year.

About Dril-Quip

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for for both offshore and onshore 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.