Public Sector Pension Investment Board Sells 10,900 Shares of Dril-Quip, Inc. (NYSE:DRQ)

Public Sector Pension Investment Board cut its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,028 shares of the oil and gas company’s stock after selling 10,900 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Dril-Quip worth $3,801,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. State Street Corp increased its holdings in Dril-Quip by 10.4% in the fourth quarter. State Street Corp now owns 1,292,159 shares of the oil and gas company’s stock valued at $60,615,000 after purchasing an additional 122,086 shares during the period. Boston Trust Walden Corp increased its holdings in Dril-Quip by 0.4% in the fourth quarter. Boston Trust Walden Corp now owns 550,556 shares of the oil and gas company’s stock valued at $25,827,000 after purchasing an additional 1,958 shares during the period. Investment Counselors of Maryland LLC increased its holdings in Dril-Quip by 56.0% in the fourth quarter. Investment Counselors of Maryland LLC now owns 534,808 shares of the oil and gas company’s stock valued at $25,088,000 after purchasing an additional 192,016 shares during the period. Van ECK Associates Corp increased its holdings in Dril-Quip by 35.3% in the fourth quarter. Van ECK Associates Corp now owns 449,905 shares of the oil and gas company’s stock valued at $21,105,000 after purchasing an additional 117,415 shares during the period. Finally, Heartland Advisors Inc. boosted its position in Dril-Quip by 22.2% during the fourth quarter. Heartland Advisors Inc. now owns 442,929 shares of the oil and gas company’s stock valued at $20,778,000 after acquiring an additional 80,597 shares during the last quarter.

NYSE DRQ traded down $1.00 during trading hours on Thursday, hitting $29.84. The company’s stock had a trading volume of 51,025 shares, compared to its average volume of 672,424. Dril-Quip, Inc. has a 52 week low of $23.91 and a 52 week high of $56.71. The company has a market capitalization of $1.13 billion, a PE ratio of 596.92 and a beta of 1.60. The company’s 50-day simple moving average is $36.24 and its two-hundred day simple moving average is $44.08.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Thursday, February 27th. The oil and gas company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The firm had revenue of $108.50 million during the quarter, compared to analyst estimates of $105.53 million. Dril-Quip had a net margin of 0.41% and a return on equity of 0.29%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. On average, research analysts anticipate that Dril-Quip, Inc. will post 0.52 EPS for the current fiscal year.

A number of analysts have commented on the stock. Capital One Financial reaffirmed a “hold” rating and set a $47.00 price target on shares of Dril-Quip in a research report on Friday, January 10th. ValuEngine raised shares of Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Wolfe Research started coverage on shares of Dril-Quip in a research report on Wednesday, November 27th. They set an “underperform” rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Dril-Quip from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $48.00 to $39.00 in a research report on Tuesday, March 10th. Finally, Morgan Stanley raised shares of Dril-Quip from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $42.00 to $35.00 in a research report on Monday, March 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Dril-Quip currently has an average rating of “Hold” and an average price target of $44.11.

Dril-Quip Company Profile

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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