Traders are more bearish on Dril-Quip recently looking at the rise in short interest. The stock recorded a rise in short interest of 7.49% between October 13, 2017 and October 31, 2017. Short interest grew from 5,765,802 to 6,197,625 over that timeframe. The short-interest ratio decreased to 9.0 and the percentage of shorted shares was 0.16% on October 31.
Dril-Quip (NYSE:DRQ) has been the object of insider selling activity recently. Blake T. Deberry, President and CEO sold $86,980 worth of shares at an average price of $43.49 on October 2nd. That brings the President and CEO’s holdings to $3,559,657 as recorded in a recent Form 4 SEC filing. SR V.P. and COO James A. Gariepy let go of 2,000 shares at an average price of $43.49 on Mon the 2nd. Gariepy now owns $3,324,376 of stock as reported to the SEC.
VP – Gen Counsel & Secretary James C. Webster sold 2,000 shares at an average price of $43.49 on Mon the 2nd. That brings Webster’s holdings to $1,048,283 per an SEC filing yesterday.
These funds have shifted positions in (DRQ). First Mercantile Trust Co augmented its stake by buying 269 shares an increase of 21.0% from 06/30/2017 to 09/30/2017. First Mercantile Trust Co now controls 1,552 shares with a value of $69,000. The total value of its holdings increased 9.5%. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings by selling 2 shares a decrease of 0.0% in the quarter. Commonwealth Of Pennsylvania Public School Empls Retrmt SYS currently owns 5,520 shares worth $244,000. The value of the position overall is down by 9.3%.
As of the end of the quarter Great Lakes Advisors, LLC had bought a total of 5,302 shares growing its stake by 4.0%. The value in dollars went from $6,395,000 to $6,020,000 decreasing 5.9% for the reporting period. Raymond James & Associates bolstered its investment by buying 58,824 shares an increase of 69.8% as of 09/30/2017. Raymond James & Associates claims 143,130 shares valued at $6,319,000. The total value of its holdings increased 53.6%.
October 30 investment analysts at Cowen and Company kept the company rating at “Market Perform” targeting a price of $39.00.
Scotiabank released a research note on DRQ and giving a rating of “Hold” and establishing a price target of $61.00. October 27 investment analysts at FBR & Co reiterated a “Buy” rating on the company.
On October 20, 2017 Gabelli released guidance on DRQ with a rating of “Hold”.
The company is now unchanged since yesterday’s close of 44.70. Dril-Quip currently has a P/E ratio of N/A and the market cap is 1.69B. As of the latest earnings report the EPS was $-0.74 with 37.86M shares outstanding.
Dril-Quip, Inc. (Dril-Quip), launched on August 12, 1997, designs, manufactures, sells and services engineered drilling and production equipment. The Business’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. The Business’s equipment is suited for use in deepwater, harsh environments and service applications. The Business’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters. The Company has manufacturing facilities in approximately three of its headquarter locations, as well as in Macae, Brazil. The Company maintains additional facilities for fabrication, reconditioning and rework in Australia, Norway, Denmark, Nigeria, China, Egypt, Ghana and Qatar..