Bank of America Corp DE raised its position in MRC Global Inc. (NYSE:MRC) by 36.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,269 shares of the oil and gas company’s stock after buying an additional 167,116 shares during the period. Bank of America Corp DE owned approximately 0.66% of MRC Global worth $11,499,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MRC. Ameritas Investment Partners Inc. acquired a new position in shares of MRC Global during the first quarter worth about $148,000. Envestnet Asset Management Inc. raised its position in shares of MRC Global by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 8,569 shares of the oil and gas company’s stock worth $156,000 after buying an additional 321 shares during the period. Redwood Investments LLC raised its position in shares of MRC Global by 20.2% in the first quarter. Redwood Investments LLC now owns 9,237 shares of the oil and gas company’s stock worth $169,000 after buying an additional 1,554 shares during the period. Laurion Capital Management LP acquired a new position in shares of MRC Global during the first quarter worth about $227,000. Finally, Quantbot Technologies LP raised its position in shares of MRC Global by 24.8% in the first quarter. Quantbot Technologies LP now owns 14,698 shares of the oil and gas company’s stock worth $269,000 after buying an additional 2,919 shares during the period. 96.99% of the stock is owned by institutional investors and hedge funds.

Shares of MRC Global Inc. (MRC) opened at 16.81 on Wednesday. The firm’s market cap is $1.59 billion. The stock’s 50 day moving average price is $16.96 and its 200-day moving average price is $18.85. MRC Global Inc. has a 12 month low of $11.50 and a 12 month high of $22.52.

MRC Global (NYSE:MRC) last released its earnings results on Thursday, May 4th. The oil and gas company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. MRC Global had a negative net margin of 2.21% and a negative return on equity of 2.39%. The firm had revenue of $862 million during the quarter, compared to analyst estimates of $798.38 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that MRC Global Inc. will post $0.19 earnings per share for the current fiscal year.

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MRC has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on MRC Global in a report on Tuesday, June 6th. They issued a “buy” rating and a $22.00 price objective for the company. Raymond James Financial, Inc. raised MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, April 19th. BidaskClub raised MRC Global from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $17.00 price target (down from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. Finally, Seaport Global Securities lowered MRC Global from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $17.00 in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $20.22.

MRC Global Company Profile

MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.

Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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