First Republic Investment Management Inc. grew its stake in shares of Dril-Quip, Inc. (NYSE:DRQ) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,116 shares of the oil and gas company’s stock after buying an additional 812 shares during the period. First Republic Investment Management Inc.’s holdings in Dril-Quip were worth $464,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its holdings in Dril-Quip by 11.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock worth $240,000 after purchasing an additional 523 shares in the last quarter. HGK Asset Management Inc. lifted its holdings in Dril-Quip by 6.0% in the 4th quarter. HGK Asset Management Inc. now owns 9,306 shares of the oil and gas company’s stock worth $279,000 after purchasing an additional 526 shares in the last quarter. First Hawaiian Bank lifted its holdings in Dril-Quip by 10.4% in the 4th quarter. First Hawaiian Bank now owns 7,879 shares of the oil and gas company’s stock worth $236,000 after purchasing an additional 740 shares in the last quarter. Legal & General Group Plc lifted its holdings in Dril-Quip by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 46,555 shares of the oil and gas company’s stock worth $2,432,000 after purchasing an additional 871 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in Dril-Quip by 1.9% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 53,237 shares of the oil and gas company’s stock worth $1,599,000 after purchasing an additional 970 shares in the last quarter.
NYSE:DRQ opened at $41.86 on Friday. Dril-Quip, Inc. has a 1 year low of $26.62 and a 1 year high of $58.95.
In other Dril-Quip news, VP James C. Webster sold 2,000 shares of Dril-Quip stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $45.84, for a total value of $91,680.00. Following the sale, the vice president now owns 39,834 shares of the company’s stock, valued at approximately $1,825,990.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.
DRQ has been the topic of a number of research analyst reports. ValuEngine cut Dril-Quip from a “buy” rating to a “hold” rating in a report on Saturday, April 13th. Zacks Investment Research cut Dril-Quip from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Gabelli raised Dril-Quip from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Cowen reissued a “market perform” rating and issued a $44.00 price target (up from $39.00) on shares of Dril-Quip in a report on Tuesday, April 30th. Finally, Barclays raised Dril-Quip from an “underweight” rating to an “equal weight” rating and set a $38.84 price target on the stock in a report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Dril-Quip has a consensus rating of “Hold” and a consensus target price of $46.64.
ILLEGAL ACTIVITY WARNING: This piece of content was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/05/18/first-republic-investment-management-inc-has-464000-stake-in-dril-quip-inc-drq.html.
Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services onshore and offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. It operates through three segments: Western Hemisphere, Eastern Hemisphere, and Asia-Pacific.
Read More: What is the cash asset ratio?
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.