Dril-Quip, Inc. (DRQ) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in Dril-Quip, Inc. (NYSE:DRQ) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,615 shares of the oil and gas company’s stock after selling 7,563 shares during the quarter. California State Teachers Retirement System’s holdings in Dril-Quip were worth $2,676,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DRQ. Schwab Charles Investment Management Inc. raised its stake in shares of Dril-Quip by 49.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 251,082 shares of the oil and gas company’s stock worth $12,253,000 after purchasing an additional 83,308 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Dril-Quip by 26.6% in the second quarter. Legal & General Group Plc now owns 30,200 shares of the oil and gas company’s stock worth $1,475,000 after purchasing an additional 6,350 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Dril-Quip by 9.3% in the second quarter. Principal Financial Group Inc. now owns 181,575 shares of the oil and gas company’s stock worth $8,861,000 after purchasing an additional 15,460 shares during the last quarter. Swiss National Bank raised its stake in shares of Dril-Quip by 2.6% in the second quarter. Swiss National Bank now owns 63,400 shares of the oil and gas company’s stock worth $3,094,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in shares of Dril-Quip by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,548 shares of the oil and gas company’s stock worth $383,000 after purchasing an additional 33 shares during the last quarter.

Shares of Dril-Quip, Inc. (DRQ) opened at $56.35 on Friday. The company has a market capitalization of $2,106.94, a PE ratio of 132.50 and a beta of 0.74. Dril-Quip, Inc. has a 1-year low of $35.85 and a 1-year high of $67.95.

Dril-Quip (NYSE:DRQ) last posted its earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a positive return on equity of 1.19% and a negative net margin of 6.14%. Dril-Quip’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. research analysts predict that Dril-Quip, Inc. will post 0.21 EPS for the current fiscal year.

In related news, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $44.66, for a total transaction of $446,600.00. Following the sale, the insider now directly owns 126,208 shares of the company’s stock, valued at $5,636,449.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP James C. Webster sold 4,890 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $202,886.10. Following the completion of the sale, the vice president now directly owns 34,947 shares in the company, valued at $1,449,951.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,662 shares of company stock worth $1,927,019. 0.87% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on the company. B. Riley restated a “buy” rating on shares of Dril-Quip in a research note on Wednesday, November 1st. Cowen set a $45.00 price objective on Dril-Quip and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research cut Dril-Quip from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. FBR & Co upgraded Dril-Quip from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $55.00 in a research note on Tuesday, October 10th. Finally, ValuEngine cut Dril-Quip from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $49.43.

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About Dril-Quip

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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