State Street Corp raised its position in McDermott International (NYSE:MDR) by 7.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,727,668 shares of the company’s stock after buying an additional 388,922 shares during the period. State Street Corp owned approximately 2.37% of McDermott International worth $42,328,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. LSV Asset Management purchased a new position in McDermott International during the third quarter valued at approximately $14,507,000. Prudential Financial Inc. raised its position in McDermott International by 202.7% in the third quarter. Prudential Financial Inc. now owns 3,103,747 shares of the company’s stock valued at $15,550,000 after buying an additional 2,078,430 shares in the last quarter. Sei Investments Co. raised its position in McDermott International by 241.6% in the third quarter. Sei Investments Co. now owns 20,326 shares of the company’s stock valued at $101,000 after buying an additional 14,376 shares in the last quarter. PNC Financial Services Group Inc. raised its position in McDermott International by 553.7% in the third quarter. PNC Financial Services Group Inc. now owns 29,489 shares of the company’s stock valued at $146,000 after buying an additional 24,978 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in McDermott International by 70.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 22,596 shares of the company’s stock valued at $113,000 after buying an additional 9,313 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

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

McDermott International (NYSE:MDR) opened at 6.51 on Tuesday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 54.25 and a beta of 1.52. The company has a 50-day moving average of $7.49 and a 200-day moving average of $6.49. McDermott International has a 12 month low of $3.53 and a 12 month high of $8.33.

McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, February 21st. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. McDermott International had a net margin of 0.60% and a return on equity of 6.41%. The firm earned $641.80 million during the quarter, compared to the consensus estimate of $614.01 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. Analysts predict that McDermott International will post $0.31 EPS for the current year.

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Several equities analysts have recently commented on the stock. Credit Suisse Group AG upped their price target on shares of McDermott International from $5.45 to $8.80 and gave the stock a “neutral” rating in a research report on Tuesday, January 31st. Citigroup Inc upped their price target on shares of McDermott International from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target for the company in a research report on Monday, January 16th. KeyCorp upgraded shares of McDermott International from a “sector weight” rating to an “overweight” rating and set a $10.00 price target for the company in a research report on Tuesday, December 20th. Finally, Howard Weil lowered shares of McDermott International from an “outperform” rating to a “sector perform” rating and set a $8.00 price target for the company. in a research report on Thursday, December 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.08.

McDermott International Company Profile

McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.

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