MRC Global (NYSE:MRC)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a research note issued to investors on Tuesday. They currently have a $22.00 price target on the oil and gas company’s stock, up from their previous price target of $18.00. Stifel Nicolaus’ target price indicates a potential upside of 18.92% from the company’s current price.
A number of other research analysts also recently issued reports on MRC. Cowen set a $24.00 price objective on MRC Global and gave the company a “buy” rating in a research note on Friday, October 6th. Robert W. Baird reissued a “hold” rating and issued a $21.00 price objective on shares of MRC Global in a research note on Monday, October 9th. Zacks Investment Research downgraded MRC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. ValuEngine downgraded MRC Global from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, Susquehanna Bancshares set a $21.00 price objective on MRC Global and gave the company a “buy” rating in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. MRC Global currently has an average rating of “Hold” and an average target price of $20.67.
MRC Global (NYSE:MRC) traded down $0.16 during midday trading on Tuesday, hitting $18.50. The company’s stock had a trading volume of 493,313 shares, compared to its average volume of 556,868. The company has a market cap of $1,750.00, a price-to-earnings ratio of -66.07, a PEG ratio of 2.06 and a beta of 1.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.31 and a quick ratio of 1.16. MRC Global has a 1 year low of $14.01 and a 1 year high of $22.26.
MRC Global (NYSE:MRC) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). MRC Global had a negative net margin of 0.09% and a positive return on equity of 1.44%. analysts forecast that MRC Global will post 0.09 earnings per share for the current year.
MRC Global announced that its Board of Directors has approved a stock repurchase program on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Andrew R. Lane sold 293,154 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $19.00, for a total value of $5,569,926.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Lane sold 180,621 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $19.00, for a total value of $3,431,799.00. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.
Several institutional investors have recently modified their holdings of MRC. Citadel Advisors LLC raised its stake in shares of MRC Global by 334.1% in the second quarter. Citadel Advisors LLC now owns 1,913,550 shares of the oil and gas company’s stock worth $31,612,000 after purchasing an additional 1,472,693 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of MRC Global in the second quarter valued at approximately $17,961,000. BlackRock Inc. grew its holdings in shares of MRC Global by 8.9% in the second quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock valued at $128,164,000 after acquiring an additional 632,231 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of MRC Global by 38.6% in the second quarter. Thrivent Financial For Lutherans now owns 1,369,000 shares of the oil and gas company’s stock valued at $22,615,000 after acquiring an additional 381,510 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in shares of MRC Global in the second quarter valued at approximately $238,000. 94.65% of the stock is owned by hedge funds and other institutional investors.
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MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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