Arizona State Retirement System Makes New $264,000 Investment in Dril-Quip, Inc. (NYSE:DRQ)

Arizona State Retirement System acquired a new position in Dril-Quip, Inc. (NYSE:DRQGet Rating) during the fourth quarter, Holdings Channel.com reports. The firm acquired 9,699 shares of the oil and gas company’s stock, valued at approximately $264,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its position in shares of Dril-Quip by 12.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,773,959 shares of the oil and gas company’s stock worth $34,628,000 after purchasing an additional 194,615 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dril-Quip by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,639,256 shares of the oil and gas company’s stock worth $32,000,000 after purchasing an additional 7,214 shares during the last quarter. State Street Corp increased its position in shares of Dril-Quip by 16.9% in the 1st quarter. State Street Corp now owns 1,627,383 shares of the oil and gas company’s stock worth $60,783,000 after purchasing an additional 235,177 shares during the last quarter. Brandes Investment Partners LP increased its position in shares of Dril-Quip by 1.4% in the 3rd quarter. Brandes Investment Partners LP now owns 1,162,187 shares of the oil and gas company’s stock worth $22,686,000 after purchasing an additional 15,899 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its position in shares of Dril-Quip by 3.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 790,193 shares of the oil and gas company’s stock worth $15,426,000 after purchasing an additional 24,511 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DRQ shares. Barclays dropped their target price on shares of Dril-Quip from $27.00 to $25.00 in a research report on Friday, May 12th. TheStreet raised shares of Dril-Quip from a “d+” rating to a “c-” rating in a research report on Tuesday, January 31st. Finally, StockNews.com downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Monday, May 15th.

Insiders Place Their Bets

In other Dril-Quip news, Director John Lovoi sold 13,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $35.29, for a total value of $458,770.00. Following the completion of the transaction, the director now owns 60,580 shares in the company, valued at approximately $2,137,868.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Dril-Quip news, Director John Lovoi sold 13,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $35.29, for a total value of $458,770.00. Following the completion of the transaction, the director now owns 60,580 shares in the company, valued at approximately $2,137,868.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kyle Mcclure sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $29.97, for a total transaction of $74,925.00. Following the completion of the sale, the chief financial officer now directly owns 60,345 shares of the company’s stock, valued at $1,808,539.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,500 shares of company stock worth $593,655. Insiders own 1.50% of the company’s stock.

Dril-Quip Stock Up 0.4 %

Shares of NYSE:DRQ opened at $24.25 on Wednesday. Dril-Quip, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $35.95. The firm has a 50-day simple moving average of $27.08 and a 200 day simple moving average of $27.43. The company has a market cap of $828.62 million, a PE ratio of 71.32 and a beta of 1.06.

Dril-Quip (NYSE:DRQGet Rating) last announced its quarterly earnings data on Monday, February 27th. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. The business had revenue of $96.81 million for the quarter, compared to the consensus estimate of $88.50 million. During the same period in the prior year, the company earned ($0.46) EPS. Dril-Quip’s quarterly revenue was up 24.3% on a year-over-year basis. As a group, research analysts forecast that Dril-Quip, Inc. will post -0.04 EPS for the current fiscal year.

Dril-Quip Company Profile

(Get Rating)

Dril-Quip, Inc designs, manufactures, sells and services engineered offshore drilling and production equipment. It operates through the following geographical segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific. Its products include specialty casing connectors, mudline suspension equipment, downhole tools, capital drilling equipment, control systems, and dry tree systems.

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

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