TIAA CREF Investment Management LLC decreased its position in Dril-Quip, Inc. (NYSE:DRQ) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,435 shares of the oil and gas company’s stock after selling 3,417 shares during the period. TIAA CREF Investment Management LLC owned 0.35% of Dril-Quip worth $7,224,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Tyers Asset Management LLC increased its position in shares of Dril-Quip by 18.9% in the first quarter. Tyers Asset Management LLC now owns 1,936 shares of the oil and gas company’s stock worth $106,000 after buying an additional 308 shares during the period. TrimTabs Asset Management LLC increased its position in shares of Dril-Quip by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 2,003 shares of the oil and gas company’s stock worth $109,000 after buying an additional 944 shares during the period. Flinton Capital Management LLC increased its position in shares of Dril-Quip by 18.9% in the first quarter. Flinton Capital Management LLC now owns 2,464 shares of the oil and gas company’s stock worth $134,000 after buying an additional 392 shares during the period. Neuburgh Advisers LLC increased its position in shares of Dril-Quip by 18.9% in the first quarter. Neuburgh Advisers LLC now owns 2,992 shares of the oil and gas company’s stock worth $163,000 after buying an additional 476 shares during the period. Finally, Huntington National Bank increased its position in shares of Dril-Quip by 87.8% in the first quarter. Huntington National Bank now owns 3,080 shares of the oil and gas company’s stock worth $168,000 after buying an additional 1,440 shares during the period.

Shares of Dril-Quip, Inc. (NYSE DRQ) traded down 0.23% during midday trading on Monday, reaching $42.50. The company’s stock had a trading volume of 479,974 shares. The company has a market capitalization of $1.61 billion, a P/E ratio of 79.00 and a beta of 0.63. Dril-Quip, Inc. has a 12-month low of $42.00 and a 12-month high of $69.40. The company’s 50-day moving average price is $49.45 and its 200 day moving average price is $54.17.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. Dril-Quip had a return on equity of 2.12% and a net margin of 4.28%. The business had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $112.12 million. During the same quarter last year, the business posted $0.96 EPS. The business’s revenue was down 10.2% on a year-over-year basis. On average, equities research analysts forecast that Dril-Quip, Inc. will post $0.15 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This article was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/08/07/tiaa-cref-investment-management-llc-sells-3417-shares-of-dril-quip-inc-nysedrq-updated-updated-updated.html.

A number of brokerages have recently issued reports on DRQ. Piper Jaffray Companies set a $43.00 price objective on Dril-Quip and gave the stock a “hold” rating in a research report on Saturday, July 29th. Zacks Investment Research upgraded Dril-Quip from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Barclays PLC downgraded Dril-Quip from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $77.00 to $57.00 in a research report on Monday, May 1st. Scotiabank set a $61.00 price objective on Dril-Quip and gave the stock a “hold” rating in a research report on Monday, July 31st. Finally, Cowen and Company lowered their price objective on Dril-Quip from $55.00 to $43.00 and set a “market perform” rating for the company in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $56.00.

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.

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

Receive News & Stock Ratings for Dril-Quip Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dril-Quip Inc. and related stocks with our FREE daily email newsletter.