McDermott International Inc (MDR) Sees Significant Growth in Short Interest

McDermott International Inc (NYSE:MDR) was the recipient of a significant growth in short interest in January. As of January 12th, there was short interest totalling 45,057,172 shares, a growth of 18.0% from the December 29th total of 38,182,481 shares. Currently, 16.0% of the company’s shares are sold short. Based on an average trading volume of 6,578,610 shares, the short-interest ratio is currently 6.8 days.

McDermott International (MDR) opened at $7.68 on Tuesday. The company has a market cap of $2,180.00, a P/E ratio of 14.49 and a beta of 1.58. McDermott International has a 12 month low of $5.56 and a 12 month high of $9.07. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.30.

MDR has been the subject of several research analyst reports. Deutsche Bank decreased their price target on shares of McDermott International from $6.50 to $5.25 and set a “hold” rating for the company in a research note on Tuesday, October 24th. Zacks Investment Research downgraded shares of McDermott International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. Scotiabank reaffirmed a “buy” rating and set a $9.00 price target on shares of McDermott International in a research note on Wednesday, November 1st. Credit Suisse Group decreased their price target on shares of McDermott International from $7.60 to $7.30 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Finally, UBS Group boosted their price objective on shares of McDermott International from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.93.

Large investors have recently modified their holdings of the stock. Pinebridge Investments L.P. bought a new position in McDermott International in the third quarter worth approximately $1,379,000. Boston Advisors LLC grew its holdings in McDermott International by 14.2% in the third quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock worth $5,457,000 after purchasing an additional 93,300 shares during the last quarter. KBC Group NV purchased a new position in McDermott International in the third quarter worth $2,597,000. Neuberger Berman Group LLC grew its holdings in McDermott International by 21.7% in the third quarter. Neuberger Berman Group LLC now owns 1,951,233 shares of the oil and gas company’s stock worth $14,185,000 after purchasing an additional 347,995 shares during the last quarter. Finally, Profund Advisors LLC purchased a new position in McDermott International in the second quarter worth $341,000. 85.68% of the stock is owned by institutional investors.

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McDermott International Company Profile

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.

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