McDermott International (MDR) Downgraded to “D” at TheStreet
A number of other research firms have also recently commented on MDR. ValuEngine raised shares of McDermott International from a strong sell rating to a sell rating in a research note on Friday, March 1st. Zacks Investment Research reaffirmed a sell rating on shares of McDermott International in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. McDermott International has an average rating of Hold and a consensus price target of $23.50.
McDermott International stock opened at $7.94 on Monday. McDermott International has a twelve month low of $6.10 and a twelve month high of $23.55. The company has a debt-to-equity ratio of 4.20, a quick ratio of 0.70 and a current ratio of 0.72. The stock has a market capitalization of $1.52 billion, a PE ratio of -8.02 and a beta of 2.76.
Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in McDermott International by 892.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,250,422 shares of the oil and gas company’s stock valued at $59,905,000 after buying an additional 2,922,760 shares during the period. Norges Bank purchased a new stake in McDermott International in the 4th quarter valued at about $17,301,000. Millennium Management LLC boosted its position in McDermott International by 274.9% in the 4th quarter. Millennium Management LLC now owns 3,101,248 shares of the oil and gas company’s stock valued at $20,282,000 after buying an additional 2,274,013 shares during the period. Bank of New York Mellon Corp purchased a new stake in McDermott International in the 2nd quarter valued at about $43,106,000. Finally, Van ECK Associates Corp boosted its position in McDermott International by 67.9% in the 4th quarter. Van ECK Associates Corp now owns 4,247,475 shares of the oil and gas company’s stock valued at $27,778,000 after buying an additional 1,717,884 shares during the period. 87.23% of the stock is owned by hedge funds and other institutional investors.
McDermott International Company 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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