Dril-Quip, Inc. (NYSE:DRQ) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,821,512 shares of the oil and gas company's stock after selling 86,691 shares during the period. Vanguard Group Inc. owned about 11.18% of Dril-Quip worth $107,652,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DRQ. Brandes Investment Partners LP boosted its holdings in shares of Dril-Quip by 36.8% during the third quarter. Brandes Investment Partners LP now owns 2,206,515 shares of the oil and gas company's stock worth $62,158,000 after purchasing an additional 593,982 shares during the period. Ranger Investment Management L.P. lifted its holdings in Dril-Quip by 365.7% in the third quarter. Ranger Investment Management L.P. now owns 697,659 shares of the oil and gas company's stock worth $19,653,000 after buying an additional 547,859 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Dril-Quip by 29.5% in the first quarter. Gamco Investors INC. ET AL now owns 1,517,794 shares of the oil and gas company's stock worth $56,690,000 after buying an additional 345,344 shares during the period. Bank of New York Mellon Corp lifted its holdings in Dril-Quip by 27.3% in the third quarter. Bank of New York Mellon Corp now owns 1,363,507 shares of the oil and gas company's stock worth $38,410,000 after buying an additional 292,521 shares during the period. Finally, Royce & Associates LP purchased a new stake in Dril-Quip in the first quarter worth about $8,170,000.

Dril-Quip Trading Down 0.9 %

NYSE:DRQ traded down $0.22 during trading hours on Friday, reaching $23.20. The company had a trading volume of 181,498 shares, compared to its average volume of 232,458. Dril-Quip, Inc. has a 52 week low of $18.93 and a 52 week high of $30.93. The firm has a market cap of $798.54 million, a price-to-earnings ratio of 2,342.00 and a beta of 0.84. The firm's 50 day moving average price is $22.16 and its 200-day moving average price is $23.08.

Dril-Quip (NYSE:DRQ - Get Free Report) last posted its earnings results on Monday, February 26th. The oil and gas company reported $0.04 EPS 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 during the quarter, compared to the consensus estimate of $118.58 million. During the same period last year, the firm posted $0.06 EPS. The company's revenue for the quarter was up 30.5% on a year-over-year basis. On average, analysts forecast that Dril-Quip, Inc. will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dril-Quip news, CEO Jeffrey J. Bird sold 7,500 shares of Dril-Quip stock in a transaction that occurred 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 sale, the chief executive officer now owns 155,327 shares of the company's stock, valued at approximately $3,594,266.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP James C. Webster sold 4,000 shares of Dril-Quip stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.16, for a total transaction of $92,640.00. Following the transaction, the vice president now 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 at this hyperlink. Also, CEO Jeffrey J. Bird sold 7,500 shares of Dril-Quip stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.14, for a total transaction of $173,550.00. Following the transaction, the chief executive officer now owns 155,327 shares in the company, valued at approximately $3,594,266.78. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DRQ has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Dril-Quip from $23.00 to $22.00 and set an "underweight" rating for the company in a report on Thursday, February 29th. StockNews.com raised shares of Dril-Quip from a "sell" rating to a "hold" rating in a research note on Friday, March 15th. Finally, Evercore ISI decreased their target price on shares of Dril-Quip from $44.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, February 28th.

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.