Mutual of America Capital Management LLC bought a new stake in shares of McDermott International Inc (NYSE:MDR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 154,243 shares of the oil and gas company’s stock, valued at approximately $3,031,000. Mutual of America Capital Management LLC owned approximately 0.16% of McDermott International at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Gideon Capital Advisors Inc. acquired a new position in McDermott International in the 2nd quarter worth $711,000. Van ECK Associates Corp lifted its holdings in McDermott International by 9.6% in the 1st quarter. Van ECK Associates Corp now owns 4,798,650 shares of the oil and gas company’s stock worth $29,224,000 after buying an additional 419,530 shares in the last quarter. Aperio Group LLC lifted its holdings in McDermott International by 12.7% in the 1st quarter. Aperio Group LLC now owns 118,498 shares of the oil and gas company’s stock worth $722,000 after buying an additional 13,317 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in McDermott International by 549.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,252 shares of the oil and gas company’s stock worth $182,000 after buying an additional 7,827 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in McDermott International by 87.8% in the 1st quarter. Wells Fargo & Company MN now owns 892,301 shares of the oil and gas company’s stock worth $5,434,000 after buying an additional 417,147 shares in the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.

A number of equities analysts have commented on MDR shares. KeyCorp cut their price objective on shares of McDermott International from $42.00 to $38.00 and set a “$17.66” rating on the stock in a report on Monday, July 23rd. Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine lowered shares of McDermott International from a “hold” rating to a “sell” rating in a report on Friday, June 22nd. Credit Suisse Group cut their price objective on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, August 13th. Finally, Citigroup cut their price objective on shares of McDermott International from $27.00 to $21.00 and set a “$17.66” rating on the stock in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.18.

In other news, SVP Scott Munro sold 2,250 shares of the business’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $17.87, for a total value of $40,207.50. Following the completion of the sale, the senior vice president now owns 35,270 shares of the company’s stock, valued at approximately $630,274.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

MDR opened at $19.45 on Friday. The stock has a market capitalization of $3.51 billion, a PE ratio of 10.13 and a beta of 1.81. McDermott International Inc has a 1-year low of $16.14 and a 1-year high of $27.21. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.96.

McDermott International (NYSE:MDR) last released its earnings results on Tuesday, July 31st. The oil and gas company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.98 billion. McDermott International had a net margin of 5.04% and a return on equity of 10.38%. The company’s revenue was up 119.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. equities analysts expect that McDermott International Inc will post 1.53 EPS for the current year.

McDermott International Profile

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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