Numeric Investors LLC boosted its position in McDermott International, Inc. (NYSE:MDR) by 1,216.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 190,900 shares of the oil and gas company’s stock after acquiring an additional 176,400 shares during the period. Numeric Investors LLC owned 0.07% of McDermott International worth $1,369,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its stake in shares of McDermott International by 13.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 176,532 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 20,500 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of McDermott International by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,653,067 shares of the oil and gas company’s stock valued at $11,159,000 after purchasing an additional 62,509 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of McDermott International during the 1st quarter valued at about $627,000. Sei Investments Co. boosted its stake in shares of McDermott International by 104.7% during the 1st quarter. Sei Investments Co. now owns 31,741 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 16,233 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of McDermott International by 4.9% during the 1st quarter. Ameriprise Financial Inc. now owns 196,454 shares of the oil and gas company’s stock valued at $1,326,000 after purchasing an additional 9,183 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on MDR. BidaskClub lowered shares of McDermott International from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Scotiabank reaffirmed a “buy” rating and set a $9.00 target price on shares of McDermott International in a research note on Friday, July 28th. TheStreet raised shares of McDermott International from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a research note on Friday. Finally, Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.47.
McDermott International, Inc. (MDR) opened at 7.22 on Tuesday. The stock has a market capitalization of $2.05 billion, a PE ratio of 27.77 and a beta of 1.40. The company’s 50-day moving average is $6.61 and its 200-day moving average is $6.63. McDermott International, Inc. has a 12 month low of $4.96 and a 12 month high of $8.33.
McDermott International (NYSE:MDR) last issued its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The business had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. Equities research analysts forecast that McDermott International, Inc. will post $0.42 EPS for the current year.
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McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.
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