McDermott International, Inc. (MDR) Stake Held by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL held its position in McDermott International, Inc. (NYSE:MDR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,183 shares of the oil and gas company’s stock at the end of the second quarter. Virginia Retirement Systems ET AL owned 0.09% of McDermott International worth $1,923,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of MDR. CIBC World Markets Inc. purchased a new position in McDermott International during the first quarter valued at $101,000. Everence Capital Management Inc. purchased a new position in McDermott International during the second quarter valued at $116,000. HighTower Advisors LLC raised its position in McDermott International by 13.0% in the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,000 shares during the last quarter. World Asset Management Inc purchased a new position in McDermott International during the second quarter valued at $134,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in McDermott International during the first quarter valued at $128,000. Institutional investors own 87.55% of the company’s stock.
Shares of McDermott International, Inc. (NYSE MDR) opened at 6.02 on Thursday. The stock has a 50 day moving average of $6.66 and a 200-day moving average of $6.73. The stock has a market capitalization of $1.71 billion, a P/E ratio of 23.15 and a beta of 1.37. McDermott International, Inc. has a 1-year low of $4.41 and a 1-year high of $8.33.
McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. Equities research analysts predict that McDermott International, Inc. will post $0.42 earnings per share for the current fiscal year.
Several research firms have weighed in on MDR. Scotiabank reiterated a “buy” rating and issued a $9.00 target price on shares of McDermott International in a report on Friday, July 28th. KeyCorp reiterated a “hold” rating on shares of McDermott International in a report on Friday, August 25th. BidaskClub lowered shares of McDermott International from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. ValuEngine lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. McDermott International currently has an average rating of “Hold” and a consensus target price of $8.29.
McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. 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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