Speece Thorson Capital Group Inc buys $11,773,689 stake in Dril-Quip (DRQ)

Dril-Quip (DRQ) : Speece Thorson Capital Group Inc scooped up 18,071 additional shares in Dril-Quip during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 209,087 shares of Dril-Quip which is valued at $11,773,689.Dril-Quip makes up approximately 2.53% of Speece Thorson Capital Group Inc’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co added DRQ to its portfolio by purchasing 214,920 company shares during the most recent quarter which is valued at $12,102,145. Dril-Quip makes up approx 0.12% of Rs Investment Management Co’s portfolio. Trust Co Of Vermont added DRQ to its portfolio by purchasing 50 company shares during the most recent quarter which is valued at $2,887.Nn Investment Partners Holdings N.v. reduced its stake in DRQ by selling 150 shares or 2.39% in the most recent quarter. The Hedge Fund company now holds 6,115 shares of DRQ which is valued at $355,037.Fisher Asset Management boosted its stake in DRQ in the latest quarter, The investment management firm added 791 additional shares and now holds a total of 377,326 shares of Dril-Quip which is valued at $21,907,548. Dril-Quip makes up approx 0.04% of Fisher Asset Management’s portfolio.

Dril-Quip closed down -0.94 points or -1.70% at $54.43 with 9,27,069 shares getting traded on Friday. Post opening the session at $54.93, the shares hit an intraday low of $51.92 and an intraday high of $54.93 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Dril-Quip reported $0.96 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $0.67. The company had revenue of $142.44 million for the quarter, compared to analysts expectations of $149.21 million. The company’s revenue was down -33.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.

Many Wall Street Analysts have commented on Dril-Quip. Shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Perform” and Lowered the Price Target to $ 67 from a previous price target of $72 .JP Morgan Initiated Dril-Quip on Jun 22, 2016 to “Neutral”, Price Target of the shares are set at $53.Dril-Quip was Downgraded by Simmons to ” Neutral” on Apr 28, 2016.

Dril-Quip Inc. designs manufactures sells and services engineered offshore drilling and production equipment. The Company’s equipment is suited for use in deepwater harsh environments and service applications. The Company’s operates in Western Hemisphere including North and South America; Eastern Hemisphere including Europe and Africa and Asia-Pacific including the Pacific Rim Southeast Asia Australia India and the Middle East. It products include subsea equipment surface equipment and offshore rig equipment. Its products are used to explore for oil and gas from offshore drilling rigs such as floating rigs and jack-up rigs and for drilling and production of oil and gas wells on offshore platforms TLPs Spars and moored vessels such as FPSOs. Its services include technical advisory assistance services reconditioning of its customer-owned products and rental of running tools for installation and retrieval of its products.

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