Old Mutual Global Investors UK Ltd. acquired a new stake in shares of McDermott International, Inc. (NYSE:MDR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 65,967 shares of the oil and gas company’s stock, valued at approximately $472,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. LSV Asset Management raised its position in McDermott International by 9.5% during the second quarter. LSV Asset Management now owns 14,466,996 shares of the oil and gas company’s stock valued at $103,728,000 after acquiring an additional 1,253,200 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in McDermott International during the second quarter valued at approximately $17,846,000. JPMorgan Chase & Co. raised its position in shares of McDermott International by 219.1% in the second quarter. JPMorgan Chase & Co. now owns 2,777,153 shares of the oil and gas company’s stock valued at $19,912,000 after purchasing an additional 1,906,741 shares during the period. State of Tennessee Treasury Department bought a new position in shares of McDermott International in the second quarter valued at approximately $851,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of McDermott International by 2.5% in the second quarter. Oppenheimer & Co. Inc. now owns 82,800 shares of the oil and gas company’s stock valued at $594,000 after purchasing an additional 2,000 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on MDR shares. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a research report on Thursday, July 20th. BidaskClub raised shares of McDermott International from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Scotia Howard Weill raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 25th. Howard Weil raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 25th. Finally, TheStreet raised shares of McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.29.
McDermott International, Inc. (NYSE:MDR) opened at 6.36 on Tuesday. McDermott International, Inc. has a 12 month low of $4.41 and a 12 month high of $8.33. The company’s 50-day moving average is $6.29 and its 200-day moving average is $6.59. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 24.46 and a beta of 1.40.
McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The business had revenue of $788.20 million during the quarter, compared to the consensus estimate of $856.54 million. During the same quarter last year, the company posted $0.07 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that McDermott International, Inc. will post $0.42 earnings per share for the current year.
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McDermott International 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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