Municipal Employees Retirement System of Michigan Has $505,000 Position in Dril-Quip, Inc. (DRQ)

Municipal Employees Retirement System of Michigan lessened its holdings in Dril-Quip, Inc. (NYSE:DRQ) by 19.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,440 shares of the oil and gas company’s stock after selling 2,840 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Dril-Quip were worth $505,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DRQ. Bank of Montreal Can increased its stake in Dril-Quip by 12.0% in the 2nd quarter. Bank of Montreal Can now owns 25,105 shares of the oil and gas company’s stock valued at $1,225,000 after buying an additional 2,681 shares during the last quarter. LS Investment Advisors LLC increased its stake in Dril-Quip by 17.6% in the 2nd quarter. LS Investment Advisors LLC now owns 3,014 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 450 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Dril-Quip by 4.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the oil and gas company’s stock valued at $483,000 after buying an additional 400 shares during the last quarter. State Treasurer State of Michigan increased its stake in Dril-Quip by 1.3% in the 2nd quarter. State Treasurer State of Michigan now owns 15,600 shares of the oil and gas company’s stock valued at $761,000 after buying an additional 200 shares during the last quarter. Finally, US Bancorp DE increased its stake in Dril-Quip by 8.0% in the 2nd quarter. US Bancorp DE now owns 15,191 shares of the oil and gas company’s stock valued at $741,000 after buying an additional 1,127 shares during the last quarter.

Several equities research analysts have commented on the stock. B. Riley reiterated a “buy” rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Cowen reiterated a “market perform” rating and issued a $39.00 price objective (down previously from $43.00) on shares of Dril-Quip in a research note on Monday, October 30th. Wolfe Research upgraded shares of Dril-Quip from an “underperform” rating to a “market perform” rating in a research note on Tuesday, October 31st. BidaskClub lowered shares of Dril-Quip from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $48.57.

In other news, insider Blake T. Deberry sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the insider now directly owns 113,175 shares of the company’s stock, valued at $4,695,630.75. The disclosure for this sale can be found here. Insiders have sold a total of 47,662 shares of company stock valued at $2,013,999 over the last three months. Insiders own 0.87% of the company’s stock.

Dril-Quip, Inc. (NYSE DRQ) opened at $46.05 on Wednesday. Dril-Quip, Inc. has a 52-week low of $35.85 and a 52-week high of $69.40. The firm has a market cap of $1,845.70, a P/E ratio of 116.07 and a beta of 0.73.

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, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The firm had revenue of $100.35 million during the quarter, compared to the consensus estimate of $106.74 million. During the same period in the prior year, the firm earned $0.63 EPS. The company’s revenue was down 18.8% compared to the same quarter last year. equities analysts anticipate that Dril-Quip, Inc. will post 0.18 EPS 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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