American Century Companies Inc. trimmed its position in Dril-Quip, Inc. (NYSE:DRQ) by 34.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,231 shares of the oil and gas company’s stock after selling 181,215 shares during the quarter. American Century Companies Inc. owned approximately 0.90% of Dril-Quip worth $16,324,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Wrapmanager Inc. acquired a new position in shares of Dril-Quip in the fourth quarter worth about $328,000. Gamco Investors INC. ET AL boosted its holdings in shares of Dril-Quip by 7.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 511,778 shares of the oil and gas company’s stock worth $24,412,000 after buying an additional 36,778 shares during the period. Gabelli Funds LLC boosted its holdings in shares of Dril-Quip by 8.2% in the fourth quarter. Gabelli Funds LLC now owns 53,000 shares of the oil and gas company’s stock worth $2,528,000 after buying an additional 4,000 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of Dril-Quip by 116.4% in the fourth quarter. Heartland Advisors Inc. now owns 216,385 shares of the oil and gas company’s stock worth $10,322,000 after buying an additional 116,385 shares during the period. Finally, Boston Partners boosted its holdings in shares of Dril-Quip by 68.3% in the fourth quarter. Boston Partners now owns 617,025 shares of the oil and gas company’s stock worth $29,432,000 after buying an additional 250,480 shares during the period.
Shares of Dril-Quip, Inc. (DRQ) opened at $47.30 on Friday. The company has a market cap of $1,780.00, a P/E ratio of -63.92 and a beta of 0.72. Dril-Quip, Inc. has a fifty-two week low of $35.85 and a fifty-two week high of $67.95.
DRQ has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Gabelli assumed coverage on shares of Dril-Quip in a report on Friday, October 20th. They set a “hold” rating and a $43.00 price target for the company. Cowen set a $45.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a report on Thursday, January 11th. ValuEngine cut shares of Dril-Quip from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Piper Jaffray Companies restated a “hold” rating and set a $38.00 price target on shares of Dril-Quip in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $49.43.
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Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.
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