Louisiana State Employees Retirement System Sells 2,000 Shares of McDermott International Inc (NYSE:MDR)

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Louisiana State Employees Retirement System decreased its holdings in shares of McDermott International Inc (NYSE:MDR) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,400 shares of the oil and gas company’s stock after selling 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in McDermott International were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MDR. Norges Bank bought a new position in McDermott International during the 4th quarter valued at approximately $17,301,000. Cooper Creek Partners Management LLC bought a new position in McDermott International during the 1st quarter valued at approximately $5,454,000. 361 Capital LLC bought a new position in McDermott International during the 1st quarter valued at approximately $2,526,000. First Trust Advisors LP raised its position in McDermott International by 120.5% during the 1st quarter. First Trust Advisors LP now owns 541,561 shares of the oil and gas company’s stock valued at $4,029,000 after purchasing an additional 295,904 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in McDermott International by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,234,912 shares of the oil and gas company’s stock valued at $60,399,000 after purchasing an additional 269,091 shares during the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

MDR stock opened at $5.00 on Tuesday. McDermott International Inc has a fifty-two week low of $4.99 and a fifty-two week high of $20.63. The stock’s 50 day moving average price is $9.03. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 7.01.

McDermott International (NYSE:MDR) last posted its earnings results on Monday, July 29th. The oil and gas company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.15). McDermott International had a negative return on equity of 12.08% and a negative net margin of 33.95%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the company posted $0.29 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. On average, analysts expect that McDermott International Inc will post -0.33 EPS for the current year.

MDR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered McDermott International from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. ValuEngine lowered McDermott International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Finally, Citigroup lowered their price target on McDermott International from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.00.

McDermott International Profile

McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.

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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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