Acuitas Investments LLC Has $1.35 Million Stock Position in Dril-Quip, Inc. (NYSE:DRQ)

Acuitas Investments LLC reduced its stake in Dril-Quip, Inc. (NYSE:DRQ) by 25.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,855 shares of the oil and gas company’s stock after selling 20,109 shares during the quarter. Acuitas Investments LLC owned about 0.17% of Dril-Quip worth $1,346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Foundry Partners LLC grew its holdings in Dril-Quip by 0.3% during the third quarter. Foundry Partners LLC now owns 141,245 shares of the oil and gas company’s stock worth $3,979,000 after buying an additional 480 shares in the last quarter. Swiss National Bank boosted its position in Dril-Quip by 1.0% in the third quarter. Swiss National Bank now owns 71,400 shares of the oil and gas company’s stock worth $2,011,000 after purchasing an additional 700 shares during the last quarter. Deutsche Bank AG boosted its position in Dril-Quip by 9.8% in the third quarter. Deutsche Bank AG now owns 16,701 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 1,490 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Dril-Quip by 59.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,733 shares of the oil and gas company’s stock worth $190,000 after purchasing an additional 2,514 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Dril-Quip by 15.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 21,583 shares of the oil and gas company’s stock worth $502,000 after purchasing an additional 2,867 shares during the last quarter.

Dril-Quip Stock Up 2.8 %

DRQ traded up $0.55 during trading on Friday, reaching $19.86. 87,870 shares of the company were exchanged, compared to its average volume of 234,388. The company’s 50-day moving average is $22.29 and its two-hundred day moving average is $22.40. The company has a market cap of $683.58 million, a price-to-earnings ratio of 1,957.00 and a beta of 0.84. Dril-Quip, Inc. has a 12-month low of $18.80 and a 12-month high of $30.93.

Dril-Quip (NYSE:DRQ) last issued 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). The company had revenue of $126.34 million for the quarter, compared to analysts’ expectations of $118.58 million. Dril-Quip had a negative return on equity of 0.58% and a net margin of 0.14%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. Equities analysts forecast that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DRQ shares. StockNews.com raised Dril-Quip from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Barclays dropped their price target 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. Finally, Evercore ISI dropped their price target 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.

Insider Buying and Selling

In other Dril-Quip news, VP James C. Webster sold 4,000 shares of the company’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 in the company, valued at approximately $1,452,942.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Dril-Quip news, CEO Jeffrey J. Bird sold 7,500 shares of the company’s stock in a transaction dated 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 directly owns 155,327 shares in the company, valued at approximately $3,594,266.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James C. Webster sold 4,000 shares of the company’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 transaction, the vice president now owns 62,735 shares in the company, valued at $1,452,942.60. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Dril-Quip 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.