Russell Investments Group Ltd. cut its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 39.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,326 shares of the oil and gas company’s stock after selling 11,300 shares during the period. Russell Investments Group Ltd.’s holdings in Dril-Quip were worth $765,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Engineers Gate Manager LP bought a new stake in shares of Dril-Quip during the 2nd quarter worth $3,652,000. Shell Asset Management Co. bought a new stake in shares of Dril-Quip during the 3rd quarter worth $1,742,000. Marshall Wace North America L.P. bought a new stake in shares of Dril-Quip during the 2nd quarter worth $1,547,000. BlackRock Inc. raised its stake in shares of 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 purchasing an additional 640,319 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Dril-Quip by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 80,955 shares of the oil and gas company’s stock worth $3,951,000 after purchasing an additional 10,118 shares during the period.
Shares of Dril-Quip, Inc. (DRQ) opened at $47.70 on Tuesday. Dril-Quip, Inc. has a twelve month low of $35.85 and a twelve month high of $67.95. The firm has a market capitalization of $1,805.95, a PE ratio of -63.60 and a beta of 0.74.
A number of equities research analysts have recently commented on the company. ValuEngine cut Dril-Quip from a “hold” rating to a “sell” rating in a research note on Sunday. Piper Jaffray Companies reiterated a “hold” rating and set a $38.00 target price on shares of Dril-Quip in a research note on Friday, November 10th. Zacks Investment Research cut Dril-Quip from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. B. Riley reiterated a “buy” rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Finally, Wolfe Research upgraded Dril-Quip from an “underperform” rating to a “market perform” rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Dril-Quip presently has a consensus rating of “Hold” and a consensus price target of $48.57.
In other Dril-Quip news, CFO Jeffrey J. Bird sold 1,931 shares of Dril-Quip stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $80,117.19. Following the completion of the transaction, the chief financial officer now owns 24,719 shares of the company’s stock, valued at approximately $1,025,591.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A P. Shukis sold 613 shares of Dril-Quip stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $42.80, for a total value of $26,236.40. Following the transaction, the director now directly owns 12,282 shares of the company’s stock, valued at approximately $525,669.60. The disclosure for this sale can be found here. In the last three months, insiders sold 45,662 shares of company stock valued at $1,927,019. 0.87% of the stock is currently owned by insiders.
ILLEGAL ACTIVITY NOTICE: “Dril-Quip, Inc. (DRQ) Holdings Trimmed by Russell Investments Group Ltd.” was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2018/01/02/dril-quip-inc-drq-holdings-trimmed-by-russell-investments-group-ltd.html.
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.
Want to see what other hedge funds are holding DRQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dril-Quip, Inc. (NYSE:DRQ).
Receive News & Ratings for Dril-Quip Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip and related companies with MarketBeat.com's FREE daily email newsletter.