MRC Global (NYSE:MRC) Shares Up 9.8%

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MRC Global Inc (NYSE:MRC) shares shot up 9.8% on Monday . The stock traded as high as $6.18 and last traded at $6.18, 626,769 shares changed hands during trading. A decline of 45% from the average session volume of 1,139,777 shares. The stock had previously closed at $5.63.

Several research firms recently weighed in on MRC. Stifel Nicolaus upgraded shares of MRC Global from a “hold” rating to a “buy” rating and reduced their price target for the stock from $12.00 to $7.00 in a research report on Tuesday, March 10th. Northland Securities began coverage on shares of MRC Global in a research report on Wednesday, June 24th. They set an “outperform” rating and a $7.50 price target for the company. Evercore ISI downgraded shares of MRC Global to a “hold” rating in a research report on Tuesday, March 17th. Susquehanna Bancshares upped their price target on shares of MRC Global from $6.00 to $8.00 and gave the stock a “positive” rating in a research report on Thursday, April 30th. Finally, Stephens restated an “overweight” rating and set a $6.50 price target (down previously from $14.00) on shares of MRC Global in a research report on Friday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. MRC Global presently has a consensus rating of “Hold” and a consensus price target of $10.78.

The company has a market cap of $506.73 million, a PE ratio of 16.70 and a beta of 2.33. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.02 and a current ratio of 2.35. The firm’s 50 day moving average is $5.81 and its 200-day moving average is $8.08.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.11. MRC Global had a net margin of 0.86% and a return on equity of 8.61%. The company had revenue of $794.00 million during the quarter, compared to analysts’ expectations of $762.31 million. During the same quarter in the prior year, the company earned $0.14 EPS. MRC Global’s revenue was down 18.1% compared to the same quarter last year. On average, analysts predict that MRC Global Inc will post -0.41 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of MRC Global by 1.4% in the 1st quarter. BlackRock Inc. now owns 5,728,980 shares of the oil and gas company’s stock valued at $24,405,000 after buying an additional 80,963 shares during the period. Alliancebernstein L.P. grew its stake in shares of MRC Global by 17.4% in the 4th quarter. Alliancebernstein L.P. now owns 5,539,743 shares of the oil and gas company’s stock valued at $75,562,000 after buying an additional 822,602 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of MRC Global by 30.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,104,579 shares of the oil and gas company’s stock valued at $17,486,000 after buying an additional 955,651 shares during the period. JPMorgan Chase & Co. grew its stake in shares of MRC Global by 3.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,432,663 shares of the oil and gas company’s stock valued at $10,364,000 after buying an additional 80,070 shares during the period. Finally, State Street Corp grew its stake in shares of MRC Global by 1.8% in the 4th quarter. State Street Corp now owns 1,752,920 shares of the oil and gas company’s stock valued at $23,910,000 after buying an additional 31,759 shares during the period. 98.70% of the stock is owned by institutional investors and hedge funds.

MRC Global Company Profile (NYSE:MRC)

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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