Engineers Gate Manager LP trimmed its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 68.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,875 shares of the oil and gas company’s stock after selling 42,564 shares during the quarter. Engineers Gate Manager LP’s holdings in Dril-Quip were worth $948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the business. BTIM Corp. boosted its position in Dril-Quip by 40.5% during the fourth quarter. BTIM Corp. now owns 419,248 shares of the oil and gas company’s stock worth $19,998,000 after purchasing an additional 120,858 shares during the period. SG Americas Securities LLC boosted its position in Dril-Quip by 116.8% during the fourth quarter. SG Americas Securities LLC now owns 20,698 shares of the oil and gas company’s stock worth $987,000 after purchasing an additional 11,151 shares during the period. Unison Advisors LLC bought a new position in Dril-Quip during the fourth quarter worth $212,000. Schwab Charles Investment Management Inc. boosted its position in Dril-Quip by 10.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 309,986 shares of the oil and gas company’s stock worth $14,787,000 after purchasing an additional 28,104 shares during the period. Finally, Bank of Montreal Can boosted its position in Dril-Quip by 29.8% during the fourth quarter. Bank of Montreal Can now owns 30,597 shares of the oil and gas company’s stock worth $1,460,000 after purchasing an additional 7,024 shares during the period.
In other news, insider Blake T. Deberry sold 10,000 shares of Dril-Quip stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the sale, the insider now owns 126,208 shares of the company’s stock, valued at $5,636,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.
A number of equities analysts have commented on the stock. B. Riley reaffirmed a “buy” rating on shares of Dril-Quip in a research report on Wednesday, November 1st. TheStreet raised shares of Dril-Quip from a “d+” rating to a “c-” rating in a research report on Friday, January 26th. Cowen reissued a “market perform” rating and set a $39.00 target price (down previously from $43.00) on shares of Dril-Quip in a report on Monday, October 30th. Wolfe Research raised Dril-Quip from an “underperform” rating to a “market perform” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research downgraded Dril-Quip from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Dril-Quip currently has an average rating of “Hold” and an average target price of $49.43.
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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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