Nisa Investment Advisors LLC grew its position in Dril-Quip, Inc. (NYSE:DRQ) by 26.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,400 shares of the oil and gas company’s stock after purchasing an additional 7,000 shares during the period. Nisa Investment Advisors LLC owned approximately 0.09% of Dril-Quip worth $1,593,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in Dril-Quip during the 3rd quarter worth approximately $484,000. Stifel Financial Corp lifted its position in Dril-Quip by 8.8% during the 3rd quarter. Stifel Financial Corp now owns 73,853 shares of the oil and gas company’s stock worth $3,271,000 after acquiring an additional 5,998 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Dril-Quip during the 3rd quarter worth approximately $695,000. Schwab Charles Investment Management Inc. lifted its position in Dril-Quip by 12.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 281,882 shares of the oil and gas company’s stock worth $12,446,000 after acquiring an additional 30,800 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Dril-Quip during the 3rd quarter worth approximately $339,000.
In other news, insider Blake T. Deberry sold 14,819 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total value of $614,840.31. Following the completion of the sale, the insider now directly owns 113,175 shares in the company, valued at approximately $4,695,630.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James C. Webster sold 4,890 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $202,886.10. Following the completion of the sale, the vice president now owns 34,947 shares of the company’s stock, valued at $1,449,951.03. The disclosure for this sale can be found here. Insiders have sold a total of 45,662 shares of company stock worth $1,927,019 over the last 90 days. 0.87% of the stock is owned by company insiders.
Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. The company had revenue of $100.35 million for the quarter, compared to the consensus estimate of $106.74 million. During the same period in the previous year, the business earned $0.63 EPS. Dril-Quip’s revenue for the quarter was down 18.8% compared to the same quarter last year. analysts forecast that Dril-Quip, Inc. will post 0.21 EPS for the current year.
Several equities analysts recently commented on the company. B. Riley reissued a “buy” rating on shares of Dril-Quip in a research report on Wednesday, November 1st. Cowen set a $45.00 price target on Dril-Quip and gave the stock a “hold” rating in a research report on Thursday, January 11th. FBR & Co upgraded Dril-Quip from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $55.00 in a report on Tuesday, October 10th. Zacks Investment Research downgraded Dril-Quip from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Wolfe Research upgraded Dril-Quip from an “underperform” rating to a “market perform” rating in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $49.43.
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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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