Nisa Investment Advisors LLC Trims Stock Holdings in Dril-Quip, Inc. (NYSE:DRQ)

Nisa Investment Advisors LLC decreased its stake in Dril-Quip, Inc. (NYSE:DRQ) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,335 shares of the oil and gas company’s stock after selling 1,110 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.05% of Dril-Quip worth $427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRQ. Geneos Wealth Management Inc. bought a new position in shares of Dril-Quip in the first quarter worth about $37,000. US Bancorp DE boosted its stake in shares of Dril-Quip by 172.1% in the first quarter. US Bancorp DE now owns 1,034 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 654 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Dril-Quip by 175.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,057 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,309 shares during the period. Group One Trading L.P. boosted its stake in shares of Dril-Quip by 124.7% in the first quarter. Group One Trading L.P. now owns 1,428 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 7,213 shares during the period. Finally, FMR LLC boosted its stake in shares of Dril-Quip by 65.2% in the third quarter. FMR LLC now owns 1,918 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 757 shares during the period.

Dril-Quip Trading Down 3.6 %

Shares of Dril-Quip stock opened at $19.86 on Thursday. The stock has a 50 day moving average of $22.44 and a 200 day moving average of $22.65. Dril-Quip, Inc. has a 12 month low of $18.93 and a 12 month high of $30.93. The firm has a market cap of $683.58 million, a PE ratio of 1,986.00 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last announced its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.04 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 firm 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 posted $0.06 earnings per share. Dril-Quip’s quarterly revenue was up 30.5% on a year-over-year basis. As a group, equities research analysts forecast that Dril-Quip, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Dril-Quip

In other Dril-Quip news, VP James C. Webster sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 62,735 shares in the company, valued at $1,452,942.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Dril-Quip news, CEO Jeffrey J. Bird sold 7,500 shares of the company’s 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 sale, the chief executive officer now directly owns 155,327 shares in the company, valued at $3,594,266.78. The sale 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 the company’s 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 owns 62,735 shares in the company, valued at $1,452,942.60. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DRQ shares. Barclays dropped their price objective on Dril-Quip from $23.00 to $22.00 and set an “underweight” rating for the company in a research note on Thursday, February 29th. Evercore ISI dropped their price target on Dril-Quip from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Finally, StockNews.com raised Dril-Quip from a “sell” rating to a “hold” rating in a research note on Friday, March 15th.

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.