Central Pacific Bank Trust Division Purchases New Holdings in Dril-Quip, Inc. (NYSE:DRQ)

Central Pacific Bank Trust Division purchased a new stake in shares of Dril-Quip, Inc. (NYSE:DRQFree Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,500 shares of the oil and gas company’s stock, valued at approximately $104,000.

Several other large investors have also recently bought and sold shares of DRQ. Tudor Investment Corp Et Al acquired a new position in Dril-Quip during the third quarter valued at approximately $2,405,000. Louisiana State Employees Retirement System bought a new stake in Dril-Quip in the fourth quarter valued at approximately $398,000. Illinois Municipal Retirement Fund raised its stake in Dril-Quip by 15.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 21,583 shares of the oil and gas company’s stock valued at $502,000 after buying an additional 2,867 shares during the period. Lesa Sroufe & Co bought a new stake in Dril-Quip in the fourth quarter valued at approximately $2,047,000. Finally, Sargent Investment Group LLC raised its stake in Dril-Quip by 60.2% in the fourth quarter. Sargent Investment Group LLC now owns 71,064 shares of the oil and gas company’s stock valued at $1,654,000 after buying an additional 26,704 shares during the period.

Dril-Quip Trading Up 0.6 %

Shares of NYSE DRQ opened at $16.11 on Thursday. The firm has a market cap of $554.51 million, a P/E ratio of -25.17 and a beta of 0.87. Dril-Quip, Inc. has a 1-year low of $15.56 and a 1-year high of $30.93. The business’s 50 day moving average is $18.32 and its 200-day moving average is $20.56.

Dril-Quip (NYSE:DRQGet Free Report) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported ($0.62) earnings per share for the quarter. The firm had revenue of $110.30 million for the quarter. Dril-Quip had a negative return on equity of 2.98% and a negative net margin of 4.89%. Analysts forecast that Dril-Quip, Inc. will post 0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays dropped their price objective on Dril-Quip from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 14th. StockNews.com upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research note on Friday, March 15th.

Check Out Our Latest Analysis on DRQ

About Dril-Quip

(Free Report)

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for offshore and onshore applications worldwide. The company's principal products include subsea and surface wellheads, specialty connectors and associated pipes, subsea production trees and systems, mudline hanger systems, production riser systems, dry tree systems, subsea manifolds, line hangers and expandable liner systems, multi-frac well connections, conventional wellheads, thermal wellheads, completion packers, and safety and kelly valves; and rig equipment comprises drilling riser systems, wellhead connectors, diverters, and cement manifolds.

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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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