Lesa Sroufe & Co Buys Shares of 87,946 Dril-Quip, Inc. (NYSE:DRQ)

Lesa Sroufe & Co acquired a new stake in shares of Dril-Quip, Inc. (NYSE:DRQ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 87,946 shares of the oil and gas company's stock, valued at approximately $2,047,000. Dril-Quip comprises about 2.1% of Lesa Sroufe & Co's portfolio, making the stock its 21st largest holding. Lesa Sroufe & Co owned about 0.26% of Dril-Quip as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DRQ. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Dril-Quip by 59.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,733 shares of the oil and gas company's stock valued at $190,000 after acquiring an additional 2,514 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Dril-Quip by 252.6% during the third quarter. PNC Financial Services Group Inc. now owns 6,942 shares of the oil and gas company's stock valued at $196,000 after buying an additional 4,973 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Dril-Quip during the third quarter valued at about $225,000. Profund Advisors LLC purchased a new position in shares of Dril-Quip during the third quarter valued at about $259,000. Finally, Southport Management L.L.C. purchased a new position in shares of Dril-Quip during the third quarter valued at about $282,000.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.14, for a total transaction of $173,550.00. Following the sale, the chief executive officer now owns 155,327 shares in the company, valued at $3,594,266.78. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, VP James C. Webster sold 4,000 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 62,735 shares in the company, valued at $1,452,942.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.14, for a total transaction of $173,550.00. Following the sale, 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. Corporate insiders own 1.70% of the company's stock.

Dril-Quip Trading Down 2.0 %

DRQ traded down $0.38 during midday trading on Wednesday, reaching $19.08. The company's stock had a trading volume of 329,911 shares, compared to its average volume of 235,266. The firm has a market capitalization of $656.73 million, a price-to-earnings ratio of 1,908.00 and a beta of 0.84. Dril-Quip, Inc. has a 1 year low of $18.84 and a 1 year high of $30.93. The stock's 50-day moving average is $22.33 and its 200-day moving average is $22.42.

Dril-Quip (NYSE:DRQ - Get Free Report) last announced 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). The business had revenue of $126.34 million during 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%. Dril-Quip's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. As a group, equities research analysts forecast that Dril-Quip, Inc. will post 0.45 earnings per share for the current fiscal year.

About Dril-Quip

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.