Dril-Quip, Inc. (NYSE:DRQ) Stake Raised by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,690 shares of the oil and gas company’s stock after acquiring an additional 26,164 shares during the quarter. Victory Capital Management Inc. owned approximately 0.88% of Dril-Quip worth $5,611,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Ranger Investment Management L.P. increased its stake in Dril-Quip by 58.5% in the 4th quarter. Ranger Investment Management L.P. now owns 1,105,735 shares of the oil and gas company’s stock valued at $25,730,000 after buying an additional 408,076 shares during the period. Brandes Investment Partners LP grew its stake in Dril-Quip by 16.0% in the fourth quarter. Brandes Investment Partners LP now owns 2,559,568 shares of the oil and gas company’s stock valued at $59,561,000 after purchasing an additional 353,053 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Dril-Quip by 7.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,116,859 shares of the oil and gas company’s stock worth $49,259,000 after purchasing an additional 144,916 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Dril-Quip by 21.9% during the 1st quarter. Gabelli Funds LLC now owns 543,880 shares of the oil and gas company’s stock worth $12,254,000 after purchasing an additional 97,800 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Dril-Quip by 13.5% during the 4th quarter. Stifel Financial Corp now owns 672,614 shares of the oil and gas company’s stock valued at $15,652,000 after buying an additional 79,885 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Dril-Quip from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th.

Dril-Quip Price Performance

Dril-Quip stock opened at $15.41 on Tuesday. Dril-Quip, Inc. has a one year low of $14.07 and a one year high of $30.93. The company’s fifty day moving average price is $16.26 and its two-hundred day moving average price is $18.95. The company has a market capitalization of $530.41 million, a price-to-earnings ratio of -24.08 and a beta of 0.84.

Dril-Quip (NYSE:DRQ) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The company had revenue of $120.34 million during the quarter, compared to the consensus estimate of $118.85 million. Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.49%. The firm’s revenue was up 34.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, sell-side analysts anticipate that Dril-Quip, Inc. will post 0.45 earnings per share for the current year.

Insider Transactions at Dril-Quip

In related news, VP James C. Webster sold 6,000 shares of Dril-Quip stock in a transaction on Monday, August 12th. The shares were sold at an average price of $14.67, for a total value of $88,020.00. Following the transaction, the vice president now owns 56,735 shares in the company, valued at approximately $832,302.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Dril-Quip Company Profile

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.