Dril-Quip, Inc. (NYSE:DRQ) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,583 shares of the oil and gas company’s stock after buying an additional 2,867 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Dril-Quip worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brandes Investment Partners LP grew its holdings in shares of Dril-Quip by 36.8% during the third 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 buying an additional 593,982 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Dril-Quip by 0.9% during the third quarter. Gamco Investors INC. ET AL now owns 1,971,943 shares of the oil and gas company’s stock valued at $55,550,000 after buying an additional 16,900 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Dril-Quip by 27.3% during the third 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 buying an additional 292,521 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Dril-Quip by 2.2% during the third quarter. William Blair Investment Management LLC now owns 1,284,077 shares of the oil and gas company’s stock valued at $36,172,000 after buying an additional 28,202 shares in the last quarter. Finally, Heartland Advisors Inc. grew its holdings in shares of Dril-Quip by 17.5% during the third quarter. Heartland Advisors Inc. now owns 872,949 shares of the oil and gas company’s stock valued at $26,434,000 after buying an additional 130,085 shares in the last quarter.

Insiders Place Their Bets

In other Dril-Quip news, VP James C. Webster sold 4,000 shares of the business’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 sale, the vice president now owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jeffrey J. Bird sold 7,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.14, for a total transaction of $173,550.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James C. Webster sold 4,000 shares of the business’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 transaction, the vice president now directly owns 62,735 shares of the company’s stock, valued at approximately $1,452,942.60. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Dril-Quip Trading Down 6.8 %

DRQ opened at $18.19 on Wednesday. The stock has a market cap of $626.10 million, a price-to-earnings ratio of 1,819.00 and a beta of 0.84. Dril-Quip, Inc. has a 1 year low of $18.18 and a 1 year high of $30.93. The stock has a fifty day moving average price of $22.23 and a 200 day moving average price of $22.27.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data 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 firm had revenue of $126.34 million for the quarter, compared to analyst estimates of $118.58 million. During the same period in the previous year, the business posted $0.06 EPS. Dril-Quip’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, sell-side analysts forecast that Dril-Quip, Inc. will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DRQ. Barclays lowered their price target on Dril-Quip from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, February 29th. Evercore ISI reduced their price objective on Dril-Quip from $44.00 to $40.00 and set an “outperform” rating for the company 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 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.