Brandywine Global Investment Management LLC lowered its position in McDermott International Inc (NYSE:MDR) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 938,640 shares of the oil and gas company’s stock after selling 137,935 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.33% of McDermott International worth $6,177,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in MDR. Evanston Investments Inc. dba Evanston Advisors purchased a new stake in McDermott International during the fourth quarter valued at about $8,287,000. Advisor Group Inc. increased its stake in shares of McDermott International by 82.6% during the fourth quarter. Advisor Group Inc. now owns 23,120 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 10,461 shares in the last quarter. Quantitative Investment Management LLC bought a new position in shares of McDermott International during the fourth quarter valued at approximately $1,029,000. CoreCommodity Management LLC increased its stake in shares of McDermott International by 19.8% during the fourth quarter. CoreCommodity Management LLC now owns 106,293 shares of the oil and gas company’s stock valued at $699,000 after purchasing an additional 17,553 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in shares of McDermott International by 140.7% during the fourth quarter. Tocqueville Asset Management L.P. now owns 851,765 shares of the oil and gas company’s stock valued at $5,605,000 after purchasing an additional 497,950 shares in the last quarter. 97.69% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on MDR shares. Citigroup raised their price target on shares of McDermott International from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Zacks Investment Research cut shares of McDermott International from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. ValuEngine upgraded shares of McDermott International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 14th. Deutsche Bank decreased their price objective on shares of McDermott International from $9.30 to $8.30 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Finally, Alembic Global Advisors set a $11.00 price objective on shares of McDermott International and gave the company a “buy” rating in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. McDermott International presently has an average rating of “Hold” and a consensus target price of $8.87.
McDermott International stock traded down $0.27 during mid-day trading on Friday, reaching $5.61. 22,478,048 shares of the company traded hands, compared to its average volume of 8,025,615. The firm has a market capitalization of $1,593.42, a price-to-earnings ratio of 8.77 and a beta of 1.86. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.29. McDermott International Inc has a fifty-two week low of $5.38 and a fifty-two week high of $9.07.
McDermott International (NYSE:MDR) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The firm had revenue of $718.10 million for the quarter, compared to the consensus estimate of $744.57 million. McDermott International had a net margin of 5.98% and a return on equity of 10.68%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 earnings per share. sell-side analysts predict that McDermott International Inc will post 0.46 EPS for the current fiscal year.
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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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