Dril-Quip, Inc. (NYSE:DRQ) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lessened its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,110 shares of the oil and gas company’s stock after selling 3,135 shares during the quarter. Foundry Partners LLC’s holdings in Dril-Quip were worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in DRQ. SG Americas Securities LLC purchased a new stake in Dril-Quip in the 3rd quarter valued at approximately $557,000. Bank of New York Mellon Corp boosted its holdings 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 purchasing an additional 292,521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Dril-Quip by 59.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,733 shares of the oil and gas company’s stock worth $190,000 after acquiring an additional 2,514 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Dril-Quip during the 3rd quarter worth approximately $308,000. Finally, Acuitas Investments LLC purchased a new stake in shares of Dril-Quip during the 3rd quarter worth approximately $2,196,000.

Dril-Quip Stock Performance

DRQ stock opened at $19.39 on Tuesday. Dril-Quip, Inc. has a 1 year low of $18.93 and a 1 year high of $30.93. The stock’s 50 day moving average price is $22.37 and its 200 day moving average price is $22.48. The firm has a market cap of $667.23 million, a P/E ratio of 1,938.50 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Monday, February 26th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). Dril-Quip had a net margin of 0.14% and a negative return on equity of 0.58%. The company had revenue of $126.34 million during the quarter, compared to analysts’ expectations of $118.58 million. During the same period in the previous year, the company posted $0.06 EPS. Dril-Quip’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, research analysts predict that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DRQ. Barclays decreased their price target on Dril-Quip from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Thursday, February 29th. Evercore ISI decreased their price target on Dril-Quip from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, StockNews.com raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Friday, March 15th.

Insider Activity at Dril-Quip

In related news, CEO Jeffrey J. Bird sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $23.14, for a total value of $173,550.00. Following the sale, the chief executive officer now owns 155,327 shares of the company’s stock, valued at approximately $3,594,266.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Jeffrey J. Bird sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $23.14, for a total value of $173,550.00. Following the sale, the chief executive officer now owns 155,327 shares of the company’s stock, valued at approximately $3,594,266.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP James C. Webster sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 approximately $1,452,942.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.