MRC Global (NYSE:MRC) has been assigned a $24.00 price objective by research analysts at Stephens in a research report issued on Saturday. The firm currently has a “buy” rating on the oil and gas company’s stock. Stephens’ target price suggests a potential upside of 43.45% from the company’s previous close.
A number of other equities analysts have also commented on the stock. Zacks Investment Research upgraded shares of MRC Global from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Stifel Nicolaus restated a “buy” rating and issued a $18.00 price objective on shares of MRC Global in a research report on Thursday, December 14th. Susquehanna Bancshares set a $21.00 price objective on shares of MRC Global and gave the company a “buy” rating in a research report on Friday, January 12th. Alembic Global Advisors restated a “buy” rating on shares of MRC Global in a research report on Friday, January 19th. Finally, Cowen cut their price objective on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $21.00.
MRC Global (NYSE MRC) traded down $0.66 during mid-day trading on Friday, hitting $16.73. 1,327,158 shares of the stock were exchanged, compared to its average volume of 643,887. 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 one year low of $14.01 and a one year high of $22.20. The company has a market capitalization of $1,581.55, a price-to-earnings ratio of 61.96, a P/E/G ratio of 1.76 and a beta of 1.56.
MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). MRC Global had a net margin of 1.37% and a return on equity of 3.53%. The firm had revenue of $903.00 million during the quarter, compared to the consensus estimate of $907.63 million. During the same quarter last year, the business posted ($0.18) earnings per share. MRC Global’s revenue was up 25.6% compared to the same quarter last year. analysts anticipate that MRC Global will post 0.63 EPS for the current fiscal year.
MRC Global announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other MRC Global news, CEO Andrew R. Lane sold 180,621 shares of MRC Global stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Lane sold 293,154 shares of MRC Global stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total transaction of $5,569,926.00. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Fox Run Management L.L.C. bought a new stake in MRC Global during the third quarter valued at approximately $448,000. Wells Fargo & Company MN lifted its holdings in shares of MRC Global by 1.4% in the 3rd quarter. Wells Fargo & Company MN now owns 2,115,906 shares of the oil and gas company’s stock worth $37,008,000 after acquiring an additional 29,014 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of MRC Global by 5.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 918,183 shares of the oil and gas company’s stock worth $16,060,000 after acquiring an additional 46,395 shares during the last quarter. State Street Corp lifted its holdings in shares of MRC Global by 2.4% in the 2nd quarter. State Street Corp now owns 1,989,151 shares of the oil and gas company’s stock worth $32,863,000 after acquiring an additional 45,858 shares during the last quarter. Finally, Ardevora Asset Management LLP lifted its holdings in shares of MRC Global by 5.7% in the 3rd quarter. Ardevora Asset Management LLP now owns 2,130,800 shares of the oil and gas company’s stock worth $37,268,000 after acquiring an additional 115,700 shares during the last quarter. Institutional investors and hedge funds own 91.93% of the company’s stock.
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About MRC Global
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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