Russell Investments Group Ltd. Decreases Stock Position in Dril-Quip, Inc. (NYSE:DRQ)

Russell Investments Group Ltd. lessened its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 2.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 242,458 shares of the oil and gas company’s stock after selling 6,261 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.71% of Dril-Quip worth $5,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of DRQ. Brandes Investment Partners LP grew its position in Dril-Quip by 36.8% in the 3rd quarter. Brandes Investment Partners LP now owns 2,206,515 shares of the oil and gas company’s stock valued at $62,158,000 after acquiring an additional 593,982 shares during the last quarter. Ranger Investment Management L.P. grew its position in Dril-Quip by 365.7% in the 3rd quarter. Ranger Investment Management L.P. now owns 697,659 shares of the oil and gas company’s stock valued at $19,653,000 after acquiring an additional 547,859 shares during the last quarter. Bank of New York Mellon Corp grew its position in Dril-Quip by 27.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,363,507 shares of the oil and gas company’s stock valued at $38,410,000 after acquiring an additional 292,521 shares during the last quarter. Victory Capital Management Inc. grew its position in Dril-Quip by 521.2% in the 3rd quarter. Victory Capital Management Inc. now owns 182,682 shares of the oil and gas company’s stock valued at $5,146,000 after acquiring an additional 153,274 shares during the last quarter. Finally, Heartland Advisors Inc. grew its position in shares of Dril-Quip by 17.5% during the 3rd quarter. Heartland Advisors Inc. now owns 872,949 shares of the oil and gas company’s stock worth $26,434,000 after buying an additional 130,085 shares in the last quarter.

Insider Activity at Dril-Quip

In other Dril-Quip news, VP James C. Webster sold 4,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.16, for a total value of $92,640.00. Following the completion of the sale, the vice president now directly owns 62,735 shares in the company, valued at $1,452,942.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Jeffrey J. Bird sold 7,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.14, for a total value of $173,550.00. Following the completion of the transaction, the chief executive officer now directly owns 155,327 shares in the company, valued at $3,594,266.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James C. Webster sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.16, for a total value of $92,640.00. Following the completion of the transaction, the vice president now owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DRQ has been the topic of a number of recent research reports. Barclays dropped their price target on Dril-Quip from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Thursday, February 29th. Evercore ISI dropped their price target on Dril-Quip from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com raised Dril-Quip from a “sell” rating to a “hold” rating in a research report on Friday, March 15th.

Dril-Quip Price Performance

Shares of DRQ stock opened at $19.71 on Friday. Dril-Quip, Inc. has a 1-year low of $17.80 and a 1-year high of $30.93. The stock’s 50-day moving average is $21.74 and its 200 day moving average is $21.91. The company has a market cap of $678.42 million, a P/E ratio of -30.80 and a beta of 0.90.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported ($0.62) earnings per share for the quarter. Dril-Quip had a negative net margin of 4.89% and a negative return on equity of 2.98%. The company had revenue of $110.30 million for the quarter. On average, analysts anticipate that Dril-Quip, Inc. will post 0.45 EPS for the current year.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for offshore and onshore applications worldwide. The company's principal products include subsea and surface wellheads, specialty connectors and associated pipes, subsea production trees and systems, mudline hanger systems, production riser systems, dry tree systems, subsea manifolds, line hangers and expandable liner systems, multi-frac well connections, conventional wellheads, thermal wellheads, completion packers, and safety and kelly valves; and rig equipment comprises drilling riser systems, wellhead connectors, diverters, and cement manifolds.