Truist Financial Corp lowered its stake in shares of Dril-Quip, Inc. (NYSE:DRQ – Free Report) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,715 shares of the oil and gas company’s stock after selling 2,552 shares during the period. Truist Financial Corp’s holdings in Dril-Quip were worth $1,017,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of DRQ. Geneos Wealth Management Inc. purchased a new position in Dril-Quip during the first quarter worth approximately $37,000. US Bancorp DE raised its stake 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 valued at $39,000 after acquiring an additional 654 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Dril-Quip by 175.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,057 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,309 shares during the period. Trivant Custom Portfolio Group LLC purchased a new position in shares of Dril-Quip in the 1st quarter valued at $48,000. Finally, Group One Trading L.P. raised its stake in shares of Dril-Quip by 124.7% in 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 during the period.
Analyst Ratings Changes
DRQ has been the topic of a number of research reports. Barclays cut their target price on shares of Dril-Quip from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, November 2nd. StockNews.com started coverage on shares of Dril-Quip in a research note on Thursday, October 5th. They issued a “sell” rating on the stock.
Dril-Quip Trading Down 1.8 %
DRQ opened at $22.60 on Tuesday. The company has a fifty day simple moving average of $26.66 and a 200 day simple moving average of $25.81. The firm has a market cap of $772.36 million, a price-to-earnings ratio of -452.00 and a beta of 1.01. Dril-Quip, Inc. has a twelve month low of $21.31 and a twelve month high of $35.95.
Dril-Quip (NYSE:DRQ – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.23). The firm had revenue of $117.20 million for the quarter, compared to analyst estimates of $111.88 million. Dril-Quip had a negative net margin of 0.38% and a negative return on equity of 0.51%. Dril-Quip’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. On average, analysts forecast that Dril-Quip, Inc. will post 0.16 earnings per share for the current fiscal year.
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.
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