Dril-Quip, Inc. (DRQ) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 25.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,478 shares of the oil and gas company’s stock after buying an additional 76,266 shares during the period. Bank of America Corp DE’s holdings in Dril-Quip were worth $20,264,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Tyers Asset Management LLC increased its stake in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 308 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 944 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 392 shares during the last quarter. Neuburgh Advisers LLC increased its stake in shares of Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 476 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of Dril-Quip by 87.8% in the first quarter. Huntington National Bank now owns 3,080 shares of the oil and gas company’s stock valued at $168,000 after buying an additional 1,440 shares during the last quarter.

Shares of Dril-Quip, Inc. (NYSE DRQ) opened at 47.65 on Monday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 31.79 and a beta of 0.65. Dril-Quip, Inc. has a 52 week low of $46.60 and a 52 week high of $69.40. The firm’s 50-day moving average price is $51.00 and its 200-day moving average price is $56.29.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Thursday, April 27th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by $0.01. Dril-Quip had a return on equity of 3.65% and a net margin of 11.51%. The business had revenue of $119.23 million for the quarter, compared to analyst estimates of $97.62 million. During the same period in the prior year, the firm posted $0.97 EPS. Dril-Quip’s revenue for the quarter was down 28.4% on a year-over-year basis. Equities research analysts expect that Dril-Quip, Inc. will post $0.14 EPS for the current fiscal year.

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Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Barclays PLC downgraded Dril-Quip from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $77.00 to $57.00 in a report on Monday, May 1st. Finally, BidaskClub upgraded Dril-Quip from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Dril-Quip has a consensus rating of “Hold” and a consensus target price of $63.29.

About Dril-Quip

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.

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

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