Nationwide Fund Advisors decreased its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,947 shares of the oil and gas company’s stock after selling 13,709 shares during the period. Nationwide Fund Advisors owned 0.24% of Dril-Quip worth $4,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Engineers Gate Manager LP purchased a new stake in Dril-Quip during the second quarter valued at approximately $3,652,000. American Century Companies Inc. raised its holdings in shares of Dril-Quip by 0.5% in the second quarter. American Century Companies Inc. now owns 879,376 shares of the oil and gas company’s stock worth $42,914,000 after buying an additional 3,963 shares during the last quarter. Heartland Advisors Inc. purchased a new position in shares of Dril-Quip in the second quarter worth $5,467,000. Shell Asset Management Co. purchased a new position in shares of Dril-Quip in the third quarter worth $1,742,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Dril-Quip in the second quarter worth $1,547,000.

In other news, VP James C. Webster sold 4,890 shares of Dril-Quip stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $41.49, for a total value of $202,886.10. Following the sale, the vice president now owns 34,947 shares in the company, valued at $1,449,951.03. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey J. Bird sold 1,931 shares of Dril-Quip stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $41.49, for a total transaction of $80,117.19. Following the completion of the sale, the chief financial officer now owns 24,719 shares in the company, valued at approximately $1,025,591.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,662 shares of company stock worth $2,013,999. 0.87% of the stock is owned by company insiders.

DRQ has been the subject of a number of research analyst reports. TheStreet cut shares of Dril-Quip from a “c” rating to a “d+” rating in a report on Friday, October 27th. Zacks Investment Research cut shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Friday, November 10th. FBR & Co reaffirmed a “buy” rating on shares of Dril-Quip in a report on Friday, October 27th. Scotiabank set a $61.00 price target on shares of Dril-Quip and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, Gabelli initiated coverage on shares of Dril-Quip in a report on Friday, October 20th. They issued a “hold” rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.57.

Shares of Dril-Quip, Inc. (DRQ) opened at $44.45 on Friday. The company has a market cap of $1,713.19, a price-to-earnings ratio of 107.74 and a beta of 0.73. Dril-Quip, Inc. has a 52-week low of $35.85 and a 52-week high of $67.95.

Dril-Quip (NYSE:DRQ) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The company had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The firm’s revenue was down 18.8% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. research analysts forecast that Dril-Quip, Inc. will post 0.2 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Nationwide Fund Advisors Has $4.06 Million Position in Dril-Quip, Inc. (DRQ)” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/12/16/nationwide-fund-advisors-has-4-06-million-position-in-dril-quip-inc-drq.html.

Dril-Quip Company Profile

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