87,946 Shares in Dril-Quip, Inc. (NYSE:DRQ) Purchased by Lesa Sroufe & Co

Lesa Sroufe & Co purchased a new position in Dril-Quip, Inc. (NYSE:DRQ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 87,946 shares of the oil and gas company’s stock, valued at approximately $2,047,000. Dril-Quip makes up 2.1% of Lesa Sroufe & Co’s investment portfolio, making the stock its 21st largest holding.

A number of other hedge funds also recently bought and sold shares of DRQ. Brandes Investment Partners LP boosted its stake in Dril-Quip by 36.8% in 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 purchasing an additional 593,982 shares in the last quarter. Ranger Investment Management L.P. boosted its stake in Dril-Quip by 365.7% in the 3rd quarter. Ranger Investment Management L.P. now owns 697,659 shares of the oil and gas company’s stock worth $19,653,000 after purchasing an additional 547,859 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Dril-Quip by 27.3% in the 3rd 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 purchasing an additional 292,521 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Dril-Quip by 521.2% in 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 purchasing an additional 153,274 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its stake in Dril-Quip by 17.5% during the 3rd quarter. Heartland Advisors Inc. now owns 872,949 shares of the oil and gas company’s stock valued at $26,434,000 after acquiring an additional 130,085 shares during the period.

Wall Street Analyst Weigh In

DRQ has been the topic of several research analyst reports. StockNews.com upgraded shares of Dril-Quip from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Barclays lowered 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. Finally, Evercore ISI lowered 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.

Insider Activity

In other news, CEO Jeffrey J. Bird sold 7,500 shares of the company’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $92,640.00. Following the completion of the sale, the vice president now directly owns 62,735 shares of the company’s stock, valued at approximately $1,452,942.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey J. Bird sold 7,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 155,327 shares of the company’s stock, valued at $3,594,266.78. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Dril-Quip Stock Up 0.5 %

NYSE DRQ opened at $19.47 on Wednesday. Dril-Quip, Inc. has a 52 week low of $18.93 and a 52 week high of $30.93. The firm has a market capitalization of $670.16 million, a P/E ratio of 1,947.00 and a beta of 0.84. The company has a 50-day moving average price of $22.36 and a 200-day moving average price of $22.44.

Dril-Quip (NYSE:DRQ) last released its quarterly 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). 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 analysts’ expectations of $118.58 million. During the same period in the previous year, the company earned $0.06 EPS. Dril-Quip’s revenue for the quarter was up 30.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Dril-Quip, Inc. will post 0.45 EPS for the current year.

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.