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

Acuitas Investments LLC decreased its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 25.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,855 shares of the oil and gas company’s stock after selling 20,109 shares during the period. Acuitas Investments LLC’s holdings in Dril-Quip were worth $1,346,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Tudor Investment Corp Et Al bought a new stake in Dril-Quip during the 3rd quarter worth about $2,405,000. Brandes Investment Partners LP grew its holdings in Dril-Quip by 36.8% during the 3rd quarter. Brandes Investment Partners LP now owns 2,206,515 shares of the oil and gas company’s stock worth $62,158,000 after acquiring an additional 593,982 shares during the last quarter. CenterBook Partners LP bought a new stake in Dril-Quip during the 3rd quarter worth about $1,389,000. Barclays PLC grew its holdings in Dril-Quip by 25.4% during the 3rd quarter. Barclays PLC now owns 21,184 shares of the oil and gas company’s stock worth $597,000 after acquiring an additional 4,292 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Dril-Quip by 521.2% during the 3rd quarter. Victory Capital Management Inc. now owns 182,682 shares of the oil and gas company’s stock worth $5,146,000 after acquiring an additional 153,274 shares during the last quarter.

Dril-Quip Stock Up 2.8 %

Dril-Quip stock traded up $0.55 during midday trading on Friday, hitting $19.86. 87,870 shares of the stock were exchanged, compared to its average volume of 234,388. The stock has a market capitalization of $683.58 million, a PE ratio of 1,957.00 and a beta of 0.84. The company has a fifty day simple moving average of $22.29 and a two-hundred day simple moving average of $22.40. Dril-Quip, Inc. has a 52 week low of $18.80 and a 52 week high of $30.93.

Dril-Quip (NYSE:DRQ) last announced its earnings results on Monday, February 26th. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). The company had revenue of $126.34 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted $0.06 earnings per share. As a group, equities research analysts anticipate that Dril-Quip, Inc. will post 0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP James C. Webster sold 4,000 shares of Dril-Quip stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.16, for a total value of $92,640.00. Following the sale, the vice president now directly owns 62,735 shares in the company, valued at $1,452,942.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Dril-Quip news, CEO Jeffrey J. Bird sold 7,500 shares of Dril-Quip stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 155,327 shares of the company’s stock, valued at $3,594,266.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James C. Webster sold 4,000 shares of Dril-Quip stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $92,640.00. Following the transaction, the vice president now directly owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

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

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.