Sargent Investment Group LLC Buys 26,704 Shares of Dril-Quip, Inc. (NYSE:DRQ)

Sargent Investment Group LLC grew its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 60.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,064 shares of the oil and gas company’s stock after purchasing an additional 26,704 shares during the period. Sargent Investment Group LLC owned approximately 0.21% of Dril-Quip worth $1,654,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Lesa Sroufe & Co purchased a new position in Dril-Quip during the 4th quarter valued at about $2,047,000. Illinois Municipal Retirement Fund lifted its position in Dril-Quip by 15.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 21,583 shares of the oil and gas company’s stock valued at $502,000 after acquiring an additional 2,867 shares during the period. Louisiana State Employees Retirement System purchased a new position in Dril-Quip during the 4th quarter valued at about $398,000. Tudor Investment Corp Et Al purchased a new position in Dril-Quip during the 3rd quarter valued at about $2,405,000. Finally, Bridge City Capital LLC lifted its position in Dril-Quip by 3.0% during the 3rd quarter. Bridge City Capital LLC now owns 103,478 shares of the oil and gas company’s stock valued at $2,915,000 after acquiring an additional 2,967 shares during the period.

Analyst Ratings Changes

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

Insider Activity

In related news, VP James C. Webster sold 4,000 shares of the business’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 transaction of $92,640.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jeffrey J. Bird sold 7,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 155,327 shares in the company, valued at $3,594,266.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James C. Webster sold 4,000 shares of the business’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 transaction of $92,640.00. Following the sale, the vice president now owns 62,735 shares of the company’s stock, valued at $1,452,942.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Dril-Quip Stock Performance

Shares of DRQ traded up $0.60 during mid-day trading on Friday, hitting $19.91. 296,292 shares of the company traded hands, compared to its average volume of 253,939. The stock has a 50-day moving average price of $22.27 and a two-hundred day moving average price of $22.33. Dril-Quip, Inc. has a 1 year low of $18.80 and a 1 year high of $30.93. The stock has a market cap of $685.30 million, a price-to-earnings ratio of 1,991.00 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.04 earnings per share 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 company 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 firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, analysts forecast that Dril-Quip, Inc. will post 0.45 EPS for the current year.

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.