McDermott International Inc (NYSE:MDR) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 52,334,669 shares, an increase of 16.2% from the January 12th total of 45,057,172 shares. Approximately 18.6% of the shares of the stock are short sold. Based on an average trading volume of 10,087,858 shares, the short-interest ratio is presently 5.2 days.
Several analysts recently issued reports on MDR shares. Credit Suisse Group dropped their price objective 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. Zacks Investment Research cut shares of McDermott International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. UBS Group upped their price objective on shares of McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, November 3rd. ValuEngine cut shares of McDermott International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 15th. Finally, KeyCorp raised shares of McDermott International from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, January 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.93.
Shares of McDermott International (NYSE MDR) traded up $0.21 during midday trading on Wednesday, reaching $7.78. 3,514,060 shares of the company traded hands, compared to its average volume of 7,905,430. McDermott International has a one year low of $5.56 and a one year high of $9.07. The stock has a market cap of $2,140.00, a PE ratio of 14.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of McDermott International by 1.6% in the 4th quarter. BlackRock Inc. now owns 36,742,640 shares of the oil and gas company’s stock valued at $241,767,000 after buying an additional 576,284 shares during the period. Vanguard Group Inc. grew its stake in shares of McDermott International by 31.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after buying an additional 7,129,111 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of McDermott International by 10.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 23,082,635 shares of the oil and gas company’s stock valued at $167,811,000 after buying an additional 2,151,895 shares during the period. State Street Corp grew its stake in shares of McDermott International by 37.3% in the 2nd quarter. State Street Corp now owns 8,384,938 shares of the oil and gas company’s stock valued at $60,118,000 after buying an additional 2,277,274 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of McDermott International by 6.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,403,203 shares of the oil and gas company’s stock valued at $32,011,000 after buying an additional 259,894 shares during the period. 85.68% of the stock is owned by institutional investors.
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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.
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