First Republic Investment Management Inc. Has $464,000 Stake in Dril-Quip, Inc. (DRQ)

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.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06). Dril-Quip had a negative return on equity of 1.88% and a negative net margin of 24.85%. The firm had revenue of $94.30 million during the quarter, compared to the consensus estimate of $95.89 million. During the same period in the previous year, the firm earned ($0.16) EPS. The business’s revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Dril-Quip, Inc. will post 0.03 EPS for the current year.

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.

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About Dril-Quip

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.

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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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