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

Arizona State Retirement System bought a new position in shares of Dril-Quip, Inc. (NYSE:DRQGet Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,699 shares of the oil and gas company’s stock, valued at approximately $264,000.

Several other hedge funds have also made changes to their positions in DRQ. Signaturefd LLC boosted its stake in shares of Dril-Quip by 77.8% during the fourth quarter. Signaturefd LLC now owns 1,108 shares of the oil and gas company’s stock worth $30,000 after buying an additional 485 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Dril-Quip during the first quarter worth about $37,000. US Bancorp DE lifted its position in Dril-Quip by 172.1% in the first quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 654 shares during the period. Tower Research Capital LLC TRC lifted its position in Dril-Quip by 175.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,057 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,309 shares during the period. Finally, Group One Trading L.P. lifted its position in Dril-Quip by 124.7% in the first quarter. Group One Trading L.P. now owns 1,428 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 7,213 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. TheStreet upgraded shares of Dril-Quip from a “d+” rating to a “c-” rating in a research report on Tuesday, January 31st. Finally, Barclays reduced their price objective on shares of Dril-Quip from $27.00 to $25.00 in a research report on Friday, May 12th.

Dril-Quip Trading Up 0.4 %

DRQ stock opened at $24.25 on Wednesday. The firm has a 50 day moving average of $27.08 and a 200-day moving average of $27.43. Dril-Quip, Inc. has a 12-month low of $19.10 and a 12-month high of $35.95. The company has a market cap of $828.62 million, a price-to-earnings ratio of 71.32 and a beta of 1.06.

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

Insider Activity

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

Dril-Quip Profile

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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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