William Blair Investment Management LLC Has $25.30 Million Position in Dril-Quip, Inc. (NYSE:DRQ)

William Blair Investment Management LLC increased its holdings in shares of Dril-Quip, Inc. (NYSE:DRQ) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,360,291 shares of the oil and gas company’s stock after acquiring an additional 121,681 shares during the quarter. William Blair Investment Management LLC owned about 3.95% of Dril-Quip worth $25,301,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Dril-Quip by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 3,878,263 shares of the oil and gas company’s stock valued at $87,377,000 after purchasing an additional 10,787 shares during the period. Brandes Investment Partners LP boosted its stake in Dril-Quip by 16.0% in the 4th quarter. Brandes Investment Partners LP now owns 2,559,568 shares of the oil and gas company’s stock valued at $59,561,000 after purchasing an additional 353,053 shares during the period. Gamco Investors INC. ET AL boosted its stake in Dril-Quip by 4.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,209,616 shares of the oil and gas company’s stock valued at $49,783,000 after purchasing an additional 92,757 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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 during the period. Finally, Ranger Investment Management L.P. boosted its stake in Dril-Quip by 58.5% in the 4th quarter. Ranger Investment Management L.P. now owns 1,105,735 shares of the oil and gas company’s stock valued at $25,730,000 after purchasing an additional 408,076 shares during the period.

Dril-Quip Stock Performance

NYSE:DRQ opened at $15.41 on Monday. The stock has a fifty day moving average price of $16.32 and a 200-day moving average price of $18.99. The company has a market cap of $530.41 million, a price-to-earnings ratio of -24.08 and a beta of 0.84. Dril-Quip, Inc. has a fifty-two week low of $14.07 and a fifty-two week high of $30.93.

Dril-Quip (NYSE:DRQ) last released its earnings results on Thursday, August 1st. The oil and gas company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The company had revenue of $120.34 million for the quarter, compared to the consensus estimate of $118.85 million. Dril-Quip had a negative net margin of 5.69% and a negative return on equity of 2.49%. The business’s revenue was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Research analysts predict that Dril-Quip, Inc. will post 0.45 EPS for the current fiscal year.

Insider Activity

In other news, VP James C. Webster sold 6,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $14.67, for a total transaction of $88,020.00. Following the completion of the sale, the vice president now directly owns 56,735 shares in the company, valued at approximately $832,302.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Dril-Quip from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th.

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.