Russell Investments Group Ltd. lifted its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 204.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,299 shares of the oil and gas company’s stock after acquiring an additional 21,010 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Dril-Quip worth $1,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Dril-Quip by 4.8% during the second quarter. BlackRock Inc. now owns 4,352,976 shares of the oil and gas company’s stock valued at $223,743,000 after acquiring an additional 200,893 shares during the period. Fisher Asset Management LLC boosted its holdings in Dril-Quip by 55.2% during the third quarter. Fisher Asset Management LLC now owns 1,684,741 shares of the oil and gas company’s stock worth $88,028,000 after buying an additional 599,214 shares in the last quarter. Northern Trust Corp boosted its holdings in Dril-Quip by 1.8% during the second quarter. Northern Trust Corp now owns 1,052,329 shares of the oil and gas company’s stock worth $54,090,000 after buying an additional 18,456 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Dril-Quip by 26.4% during the second quarter. Voya Investment Management LLC now owns 629,154 shares of the oil and gas company’s stock worth $32,338,000 after buying an additional 131,386 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Dril-Quip by 0.7% during the second quarter. Gamco Investors INC. ET AL now owns 531,828 shares of the oil and gas company’s stock worth $27,336,000 after buying an additional 3,900 shares in the last quarter.

A number of brokerages recently weighed in on DRQ. Zacks Investment Research restated a “hold” rating on shares of Dril-Quip in a report on Tuesday, November 13th. ValuEngine cut shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Barclays reduced their target price on shares of Dril-Quip from $41.00 to $39.00 and set a “sell” rating for the company in a report on Monday, October 29th. Finally, Morgan Stanley began coverage on shares of Dril-Quip in a report on Tuesday, September 18th. They set an “underweight” rating and a $50.00 target price for the company. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $48.50.

Dril-Quip stock opened at $36.82 on Thursday. Dril-Quip, Inc. has a 52 week low of $36.40 and a 52 week high of $58.95. The company has a market capitalization of $1.32 billion, a P/E ratio of 141.62 and a beta of 1.09.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Thursday, October 25th. The oil and gas company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. Dril-Quip had a negative net margin of 23.34% and a negative return on equity of 1.95%. The firm had revenue of $93.26 million during the quarter, compared to analyst estimates of $85.96 million. Analysts forecast that Dril-Quip, Inc. will post -0.79 earnings per share for the current fiscal year.

In other news, insider Blake T. Deberry sold 2,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $52.35, for a total transaction of $104,700.00. Following the transaction, the insider now owns 112,208 shares in the company, valued at approximately $5,874,088.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey J. Bird sold 1,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $52.35, for a total transaction of $52,350.00. Following the transaction, the vice president now owns 20,788 shares in the company, valued at approximately $1,088,251.80. The disclosure for this sale can be found here. Insiders sold a total of 42,600 shares of company stock valued at $1,802,081 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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About Dril-Quip

Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.

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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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