Dril-Quip, Inc. (DRQ) Holdings Lifted by American International Group Inc.

American International Group Inc. grew its position in Dril-Quip, Inc. (NYSE:DRQ) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 102,818 shares of the oil and gas company’s stock after buying an additional 2,766 shares during the period. American International Group Inc. owned approximately 0.27% of Dril-Quip worth $4,539,000 as of its most recent SEC filing.

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

Several research analysts have recently weighed in on DRQ shares. TheStreet cut shares of Dril-Quip from a “c” rating to a “d+” rating in a report on Friday, October 27th. Zacks Investment Research raised shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, November 1st. FBR & Co reissued a “buy” rating on shares of Dril-Quip in a report on Friday, October 27th. Gabelli started coverage on shares of Dril-Quip in a report on Friday, October 20th. They set a “hold” rating and a $43.00 price objective for the company. Finally, Cowen set a $43.00 price objective on shares of Dril-Quip and gave the company a “hold” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.57.

In other Dril-Quip news, insider Blake T. Deberry sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total value of $446,600.00. Following the completion of the transaction, the insider now directly owns 126,208 shares in the company, valued at $5,636,449.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James C. Webster sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $43.49, for a total transaction of $86,980.00. Following the completion of the transaction, the vice president now owns 24,104 shares of the company’s stock, valued at $1,048,282.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,662 shares of company stock valued at $2,013,999. 0.87% of the stock is owned by corporate insiders.

Shares of Dril-Quip, Inc. (NYSE DRQ) opened at $46.05 on Wednesday. Dril-Quip, Inc. has a twelve month low of $35.85 and a twelve month high of $69.40. The company 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 announced its earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS 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 business had revenue of $100.35 million during the quarter, compared to analysts’ expectations of $106.74 million. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was down 18.8% on a year-over-year basis. analysts predict that Dril-Quip, Inc. will post 0.18 EPS for the current fiscal 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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