McDermott International Inc (NYSE:MDR)’s share price gapped down before the market opened on Friday . The stock had previously closed at $8.12, but opened at $7.94. McDermott International shares last traded at $7.89, with a volume of 3830109 shares traded.
A number of equities analysts recently weighed in on MDR shares. Zacks Investment Research upgraded shares of McDermott International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, TheStreet lowered shares of McDermott International from a “c-” rating to a “d” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. McDermott International has a consensus rating of “Hold” and an average target price of $23.50.
The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 4.20. The stock has a market cap of $1.45 billion, a P/E ratio of -7.97 and a beta of 2.76.
A number of hedge funds have recently added to or reduced their stakes in MDR. Bank of New York Mellon Corp bought a new position in McDermott International during the second quarter valued at $43,106,000. Engineers Gate Manager LP purchased a new stake in shares of McDermott International in the third quarter valued at $197,000. Private Advisor Group LLC purchased a new stake in shares of McDermott International in the third quarter valued at $190,000. Stratos Wealth Partners LTD. purchased a new stake in shares of McDermott International in the third quarter valued at $147,000. Finally, Wells Fargo & Company MN raised its stake in shares of McDermott International by 37.1% in the third quarter. Wells Fargo & Company MN now owns 883,329 shares of the oil and gas company’s stock valued at $16,279,000 after acquiring an additional 238,844 shares during the period. Institutional investors and hedge funds own 87.23% of the company’s stock.
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McDermott International Company Profile (NYSE:MDR)
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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