Dril-Quip, Inc. (NYSE:DRQ) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,335 shares of the oil and gas company’s stock after selling 1,110 shares during the period. Nisa Investment Advisors LLC’s holdings in Dril-Quip were worth $427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DRQ. Advisor Group Holdings Inc. lifted its holdings in Dril-Quip by 2,352.7% in the first quarter. Advisor Group Holdings Inc. now owns 11,724 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 11,246 shares during the last quarter. ProShare Advisors LLC acquired a new position in Dril-Quip in the first quarter valued at approximately $292,000. JPMorgan Chase & Co. lifted its holdings in Dril-Quip by 3.4% in the first quarter. JPMorgan Chase & Co. now owns 28,602 shares of the oil and gas company’s stock valued at $1,068,000 after acquiring an additional 937 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Dril-Quip by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 415,762 shares of the oil and gas company’s stock valued at $15,529,000 after acquiring an additional 2,172 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Dril-Quip by 44.7% in the first quarter. American Century Companies Inc. now owns 28,620 shares of the oil and gas company’s stock valued at $1,069,000 after purchasing an additional 8,842 shares during the period.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays cut their target price 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. StockNews.com raised Dril-Quip from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Evercore ISI cut their target price 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.

Dril-Quip Trading Down 3.6 %

Dril-Quip stock opened at $19.86 on Thursday. Dril-Quip, Inc. has a twelve month low of $18.93 and a twelve month high of $30.93. The stock’s fifty day simple moving average is $22.44 and its 200-day simple moving average is $22.65. The firm has a market capitalization of $683.58 million, a P/E ratio of 1,986.00 and a beta of 0.84.

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

Insider Transactions at Dril-Quip

In related news, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 155,327 shares of the company’s stock, valued at $3,594,266.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP James C. Webster sold 4,000 shares of the stock in a transaction on 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 owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction on Monday, April 1st. The shares were 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 approximately $3,594,266.78. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.