Inspire Investing LLC Increases Stock Position in Dril-Quip, Inc. (NYSE:DRQ)

Inspire Investing LLC grew its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 20.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,904 shares of the oil and gas company’s stock after purchasing an additional 3,179 shares during the period. Inspire Investing LLC owned approximately 0.05% of Dril-Quip worth $352,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DRQ. Charles Schwab Investment Management Inc. grew its holdings 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 worth $10,568,000 after acquiring an additional 13,468 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 in the last quarter. SageView Advisory Group LLC purchased a new position in shares of Dril-Quip in the 4th quarter valued at about $317,000. Stifel Financial Corp lifted its stake in shares of Dril-Quip by 13.5% in the fourth quarter. Stifel Financial Corp now owns 672,614 shares of the oil and gas company’s stock valued at $15,652,000 after purchasing an additional 79,885 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Dril-Quip by 8.3% during the fourth quarter. Gabelli Funds LLC now owns 446,080 shares of the oil and gas company’s stock worth $10,380,000 after buying an additional 34,280 shares in the last quarter.

Dril-Quip Trading Down 3.5 %

Shares of DRQ opened at $15.41 on Monday. Dril-Quip, Inc. has a 12-month low of $14.07 and a 12-month high of $30.93. The stock has a market cap of $530.41 million, a P/E ratio of -24.08 and a beta of 0.84. The company has a 50-day moving average of $16.14 and a two-hundred day moving average of $18.88.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $118.85 million. During the same period in the previous year, the business posted ($0.03) EPS. The business’s quarterly revenue was up 34.3% on a year-over-year basis. As a group, analysts forecast that Dril-Quip, Inc. will post 0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Dril-Quip in a research report on Wednesday, September 18th. They set a “sell” rating for the company.

Insider Buying and Selling

In other Dril-Quip news, VP James C. Webster sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the sale, the vice president now directly owns 56,735 shares of the company’s stock, valued at approximately $832,302.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

About Dril-Quip

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.