McDermott International, Inc. (MDR) Shares Sold by Hennessy Advisors Inc.
Hennessy Advisors Inc. lessened its stake in McDermott International, Inc. (NYSE:MDR) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 481,100 shares of the oil and gas company’s stock after selling 9,500 shares during the period. Hennessy Advisors Inc. owned about 0.17% of McDermott International worth $3,449,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of MDR. CIBC World Markets Inc. bought a new stake in shares of McDermott International in the first quarter worth $101,000. Private Advisor Group LLC bought a new stake in shares of McDermott International in the second quarter worth $106,000. Everence Capital Management Inc. bought a new stake in shares of McDermott International in the second quarter worth $116,000. HighTower Advisors LLC increased its stake in shares of 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 worth $117,000 after buying an additional 2,000 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of McDermott International in the first quarter worth $128,000. Institutional investors and hedge funds own 87.54% of the company’s stock.
McDermott International, Inc. (MDR) opened at 6.19 on Friday. McDermott International, Inc. has a 12-month low of $4.41 and a 12-month high of $8.33. The firm has a market cap of $1.76 billion, a P/E ratio of 23.81 and a beta of 1.40. The firm has a 50-day moving average of $6.31 and a 200-day moving average of $6.61.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.03. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The company had revenue of $788.20 million for the quarter, compared to analyst estimates of $856.54 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. On average, analysts expect that McDermott International, Inc. will post $0.42 EPS for the current year.
MDR has been the subject of a number of research analyst reports. Howard Weil upgraded shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. Scotia Howard Weill raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. Scotiabank raised shares of McDermott International from a “sector perform” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, May 25th. ValuEngine downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, BidaskClub raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.29.
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About McDermott International
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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