LSV Asset Management reduced its stake in shares of McDermott International Inc (NYSE:MDR) by 0.9% during the 1st quarter, HoldingsChannel reports. The firm owned 6,891,869 shares of the oil and gas company’s stock after selling 65,997 shares during the period. LSV Asset Management’s holdings in McDermott International were worth $51,275,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Virtu Financial LLC raised its position in shares of McDermott International by 531.5% in the fourth quarter. Virtu Financial LLC now owns 76,720 shares of the oil and gas company’s stock valued at $502,000 after buying an additional 64,572 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of McDermott International by 622.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 210,443 shares of the oil and gas company’s stock valued at $1,376,000 after buying an additional 181,325 shares during the last quarter. NJ State Employees Deferred Compensation Plan raised its position in shares of McDermott International by 29.1% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 41,667 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 9,399 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of McDermott International by 8.8% in the fourth quarter. New York State Teachers Retirement System now owns 90,269 shares of the oil and gas company’s stock valued at $590,000 after buying an additional 7,313 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of McDermott International by 1.1% in the fourth quarter. Arizona State Retirement System now owns 129,612 shares of the oil and gas company’s stock valued at $848,000 after buying an additional 1,422 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.
A number of equities research analysts have recently commented on the stock. TheStreet cut shares of McDermott International from a “c-” rating to a “d” rating in a research report on Monday, March 11th. ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research cut shares of McDermott International from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. McDermott International has an average rating of “Hold” and an average price target of $23.50.
McDermott International stock opened at $7.25 on Wednesday. McDermott International Inc has a 12-month low of $6.10 and a 12-month high of $23.02. The stock has a market cap of $1.30 billion, a P/E ratio of -7.32 and a beta of 2.73. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 5.61.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.07). McDermott International had a negative return on equity of 5.13% and a negative net margin of 33.44%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. McDermott International’s revenue for the quarter was up 263.7% on a year-over-year basis. As a group, equities research analysts predict that McDermott International Inc will post 1.66 earnings per share for the current year.
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McDermott International Company Profile
McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.
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