Frontier Capital Management Co. LLC decreased its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,518 shares of the oil and gas company’s stock after selling 2,720 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Dril-Quip were worth $7,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Shell Asset Management Co. purchased a new stake in Dril-Quip during the 3rd quarter worth $1,742,000. Nordea Investment Management AB increased its stake in Dril-Quip by 51.8% during the 3rd quarter. Nordea Investment Management AB now owns 54,931 shares of the oil and gas company’s stock worth $2,425,000 after buying an additional 18,739 shares during the period. BlackRock Inc. increased its stake in Dril-Quip by 17.9% during the 2nd quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock worth $206,022,000 after buying an additional 640,319 shares during the period. State Street Corp increased its stake in Dril-Quip by 22.0% during the 2nd quarter. State Street Corp now owns 1,441,200 shares of the oil and gas company’s stock worth $70,327,000 after buying an additional 260,352 shares during the period. Finally, Northern Trust Corp increased its stake in Dril-Quip by 119.7% during the 2nd quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock worth $50,851,000 after buying an additional 567,821 shares during the period.

In related news, insider Blake T. Deberry sold 14,819 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.49, for a total transaction of $614,840.31. Following the completion of the sale, the insider now directly owns 113,175 shares of the company’s stock, valued at $4,695,630.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director A P. Shukis sold 613 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $42.80, for a total transaction of $26,236.40. Following the sale, the director now directly owns 12,282 shares of the company’s stock, valued at $525,669.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,662 shares of company stock valued at $1,927,019. Insiders own 0.87% of the company’s stock.

DRQ has been the topic of several analyst reports. Cowen set a $43.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Gabelli initiated coverage on shares of Dril-Quip in a research note on Friday, October 20th. They set a “hold” rating and a $43.00 price target on the stock. ValuEngine downgraded shares of Dril-Quip from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $38.00 target price on shares of Dril-Quip in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $49.43.

Shares of Dril-Quip, Inc. (NYSE DRQ) opened at $55.30 on Tuesday. The firm has a market cap of $2,090.00, a PE ratio of -74.73 and a beta of 0.74. Dril-Quip, Inc. has a 1 year low of $35.85 and a 1 year high of $67.95.

Dril-Quip (NYSE:DRQ) last released its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company had revenue of $100.35 million during the quarter, compared to the consensus estimate of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The company’s revenue was down 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. sell-side analysts anticipate that Dril-Quip, Inc. will post 0.21 earnings per share for the current year.

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Dril-Quip Profile

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.

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

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