First Trust Advisors LP increased its position in McDermott International, Inc. (NYSE:MDR) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 279,708 shares of the oil and gas company’s stock after purchasing an additional 40,717 shares during the quarter. First Trust Advisors LP owned approximately 0.10% of McDermott International worth $2,006,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CIBC World Markets Inc. bought a new stake in shares of McDermott International in the 1st quarter valued at about $101,000. HighTower Advisors LLC raised its holdings in shares of McDermott International by 13.0% in the 1st quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 2,000 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of McDermott International in the 1st quarter valued at about $128,000. Teacher Retirement System of Texas raised its holdings in shares of McDermott International by 4.6% in the 1st quarter. Teacher Retirement System of Texas now owns 19,136 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 849 shares during the period. Finally, World Asset Management Inc bought a new stake in shares of McDermott International in the 2nd quarter valued at about $134,000. 87.54% of the stock is currently owned by institutional investors.

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A number of equities research analysts have recently issued reports on MDR shares. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a report on Thursday, July 20th. Howard Weil raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a report 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. BidaskClub raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, ValuEngine cut shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. McDermott International currently has an average rating of “Hold” and an average target price of $8.29.

McDermott International, Inc. (NYSE:MDR) opened at 6.36 on Tuesday. The company has a market capitalization of $1.81 billion, a PE ratio of 24.46 and a beta of 1.40. McDermott International, Inc. has a 12-month low of $4.41 and a 12-month high of $8.33. The firm has a 50-day moving average of $6.29 and a 200 day moving average of $6.59.

McDermott International (NYSE:MDR) last released its quarterly earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share 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 firm had revenue of $788.20 million for the quarter, compared to analysts’ expectations of $856.54 million. During the same quarter last year, the firm posted $0.07 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts forecast that McDermott International, Inc. will post $0.42 EPS for the current fiscal year.

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.

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

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