Sargent Investment Group LLC Boosts Holdings in Dril-Quip, Inc. (NYSE:DRQ)

Sargent Investment Group LLC raised its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 14.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 85,648 shares of the oil and gas company’s stock after buying an additional 10,704 shares during the period. Sargent Investment Group LLC owned about 0.25% of Dril-Quip worth $1,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Dril-Quip by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 454,140 shares of the oil and gas company’s stock valued at $10,568,000 after acquiring an additional 13,468 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Dril-Quip during the 4th quarter valued at approximately $370,000. Dimensional Fund Advisors LP lifted its stake in shares of Dril-Quip by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,150,385 shares of the oil and gas company’s stock valued at $50,040,000 after purchasing an additional 43,434 shares during the period. Brandes Investment Partners LP boosted its holdings in Dril-Quip by 16.0% during the fourth quarter. Brandes Investment Partners LP now owns 2,559,568 shares of the oil and gas company’s stock worth $59,561,000 after buying an additional 353,053 shares in the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in Dril-Quip during the fourth quarter worth $317,000.

Insider Activity at Dril-Quip

In other Dril-Quip news, VP James C. Webster sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $14.67, for a total transaction of $88,020.00. Following the completion of the sale, the vice president now directly owns 56,735 shares in the company, valued at approximately $832,302.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Dril-Quip Price Performance

Dril-Quip stock opened at $15.41 on Tuesday. Dril-Quip, Inc. has a 12 month low of $14.07 and a 12 month high of $30.93. The stock has a market capitalization of $530.41 million, a PE ratio of -24.08 and a beta of 0.84. The business has a 50 day simple moving average of $16.26 and a 200-day simple moving average of $18.95.

Dril-Quip (NYSE:DRQ) last posted 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). Dril-Quip had a negative return on equity of 2.49% and a negative net margin of 5.69%. The company had revenue of $120.34 million for the quarter, compared to analyst estimates of $118.85 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The business’s revenue was up 34.3% on a year-over-year basis. On average, equities research analysts anticipate that Dril-Quip, Inc. will post 0.45 EPS for the current fiscal year.

Dril-Quip 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.