McDermott International Inc (MDR) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in McDermott International Inc (NYSE:MDR) by 16.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 976,315 shares of the oil and gas company’s stock after purchasing an additional 135,711 shares during the quarter. Russell Investments Group Ltd. owned about 0.54% of McDermott International worth $17,993,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MDR. Envestnet Asset Management Inc. purchased a new position in shares of McDermott International in the second quarter worth about $117,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of McDermott International in the second quarter worth about $128,000. Hanson & Doremus Investment Management raised its stake in shares of McDermott International by 60.2% in the second quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 2,566 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in McDermott International during the second quarter valued at approximately $134,000. Finally, NumerixS Investment Technologies Inc purchased a new position in McDermott International during the second quarter valued at approximately $162,000. Hedge funds and other institutional investors own 87.85% of the company’s stock.

Shares of MDR stock opened at $9.63 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market cap of $1.80 billion, a P/E ratio of 7.65 and a beta of 2.58. McDermott International Inc has a twelve month low of $6.97 and a twelve month high of $27.21.

McDermott International (NYSE:MDR) last announced its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.09). The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.50 billion. McDermott International had a net margin of 2.05% and a return on equity of 8.40%. The firm’s revenue was up 138.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 earnings per share. As a group, equities analysts predict that McDermott International Inc will post 1.03 earnings per share for the current year.

In other McDermott International news, CEO David Dickson acquired 39,800 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were bought at an average cost of $9.96 per share, with a total value of $396,408.00. Following the completion of the acquisition, the chief executive officer now owns 459,889 shares in the company, valued at $4,580,494.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott Munro sold 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $15.90, for a total value of $35,775.00. Following the completion of the sale, the senior vice president now directly owns 33,020 shares in the company, valued at $525,018. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 127,300 shares of company stock valued at $1,255,068. 1.30% of the stock is owned by company insiders.

MDR has been the subject of several recent research reports. Zacks Investment Research cut McDermott International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine cut McDermott International from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 6th. Credit Suisse Group reduced their price target on McDermott International from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, August 13th. Citigroup reduced their price target on McDermott International from $27.00 to $21.00 and set a “$17.66” rating for the company in a research report on Monday, July 23rd. Finally, TheStreet cut McDermott International from a “b-” rating to a “c+” rating in a research report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.32.

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McDermott International Profile

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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