Stratos Wealth Partners LTD. lowered its position in McDermott International, Inc. (NYSE:MDR) by 15.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,412 shares of the oil and gas company’s stock after selling 3,246 shares during the period. Stratos Wealth Partners LTD.’s holdings in McDermott International were worth $125,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MDR. State Board of Administration of Florida Retirement System raised its stake in McDermott International by 6.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 399,873 shares of the oil and gas company’s stock worth $2,699,000 after buying an additional 24,155 shares in the last quarter. 361 Capital LLC acquired a new stake in McDermott International during the first quarter worth approximately $186,000. LSV Asset Management raised its stake in McDermott International by 57.5% in the first quarter. LSV Asset Management now owns 13,213,796 shares of the oil and gas company’s stock worth $89,193,000 after buying an additional 4,822,700 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in McDermott International by 13.1% in the first quarter. Great West Life Assurance Co. Can now owns 176,532 shares of the oil and gas company’s stock worth $1,192,000 after buying an additional 20,500 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in McDermott International during the first quarter worth approximately $165,000. 73.82% of the stock is owned by hedge funds and other institutional investors.
McDermott International, Inc. (MDR) opened at 6.19 on Friday. The stock has a 50 day moving average of $7.03 and a 200 day moving average of $6.90. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 23.81 and a beta of 1.37. McDermott International, Inc. has a one year low of $4.41 and a one year high of $8.33.
McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The firm had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. During the same period in the prior year, the business earned $0.07 EPS. McDermott International’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts predict that McDermott International, Inc. will post $0.42 EPS for the current fiscal year.
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A number of research firms have commented on MDR. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 target price for the company in a report on Thursday, July 20th. BidaskClub raised shares of McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Scotiabank reaffirmed a “buy” rating and set a $9.00 target price on shares of McDermott International in a report on Friday, July 28th. TheStreet raised shares of McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Finally, Scotia Howard Weill raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $8.29.
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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