Municipal Employees Retirement System of Michigan lifted its position in McDermott International Inc (NYSE:MDR) by 37.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 146,270 shares of the oil and gas company’s stock after purchasing an additional 39,760 shares during the quarter. Municipal Employees Retirement System of Michigan owned 0.05% of McDermott International worth $962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of McDermott International by 93.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock worth $111,000 after purchasing an additional 8,176 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in McDermott International during the 3rd quarter worth about $112,000. Icon Wealth Partners LLC acquired a new position in McDermott International during the 4th quarter worth about $115,000. Raymond James Financial Services Advisors Inc. acquired a new position in McDermott International during the 4th quarter worth about $118,000. Finally, Zeke Capital Advisors LLC acquired a new position in McDermott International during the 4th quarter worth about $121,000. 97.68% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts recently issued reports on MDR shares. ValuEngine upgraded shares of McDermott International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. KeyCorp upgraded shares of McDermott International from a “sector weight” rating to an “overweight” rating in a research report on Tuesday, January 23rd. Morgan Stanley reiterated a “sell” rating on shares of McDermott International in a research report on Wednesday, December 20th. Credit Suisse Group reiterated a “neutral” rating and set a $8.80 price target (up previously from $7.30) on shares of McDermott International in a research report on Thursday, February 22nd. Finally, Alembic Global Advisors set a $11.00 price target on shares of McDermott International and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.01.

Shares of McDermott International stock opened at $7.25 on Thursday. The firm has a market cap of $1,974.02, a P/E ratio of 10.86 and a beta of 1.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.03 and a quick ratio of 2.03. McDermott International Inc has a 52-week low of $5.56 and a 52-week high of $9.07.

McDermott International (NYSE:MDR) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $718.10 million for the quarter, compared to the consensus estimate of $744.57 million. McDermott International had a net margin of 5.98% and a return on equity of 10.68%. McDermott International’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. research analysts predict that McDermott International Inc will post 0.46 earnings per share for the current fiscal year.

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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.

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

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