Foundry Partners LLC Sells 3,135 Shares of Dril-Quip, Inc. (NYSE:DRQ)

Foundry Partners LLC cut its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,110 shares of the oil and gas company’s stock after selling 3,135 shares during the period. Foundry Partners LLC owned 0.40% of Dril-Quip worth $3,214,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Swiss National Bank increased its stake in shares of Dril-Quip by 1.0% during the third quarter. Swiss National Bank now owns 71,400 shares of the oil and gas company’s stock valued at $2,011,000 after buying an additional 700 shares during the period. Deutsche Bank AG grew its stake 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 period. Bridge City Capital LLC grew its stake in Dril-Quip by 3.0% in the third quarter. Bridge City Capital LLC now owns 103,478 shares of the oil and gas company’s stock worth $2,915,000 after purchasing an additional 2,967 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Dril-Quip by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 440,672 shares of the oil and gas company’s stock worth $12,414,000 after purchasing an additional 3,588 shares during the period.

Dril-Quip Price Performance

Shares of NYSE:DRQ opened at $19.39 on Tuesday. The company has a market cap of $667.23 million, a P/E ratio of 1,938.50 and a beta of 0.84. Dril-Quip, Inc. has a 1 year low of $18.93 and a 1 year high of $30.93. The stock’s fifty day moving average price is $22.37 and its 200-day moving average price is $22.48.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results 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). Dril-Quip had a net margin of 0.14% and a negative return on equity of 0.58%. The business had revenue of $126.34 million for the quarter, compared to the consensus estimate of $118.58 million. During the same period in the previous year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Dril-Quip

In other Dril-Quip news, VP James C. Webster sold 4,000 shares of the 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 owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Dril-Quip news, VP James C. Webster sold 4,000 shares of the 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 owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly 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 owned by corporate insiders.

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.