California Public Employees Retirement System Has $7.33 Million Holdings in McDermott International, Inc. (MDR)

California Public Employees Retirement System trimmed its position in shares of McDermott International, Inc. (NYSE:MDR) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,022,000 shares of the oil and gas company’s stock after selling 113,300 shares during the quarter. California Public Employees Retirement System owned 0.36% of McDermott International worth $7,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in McDermott International by 109.1% during the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after acquiring an additional 18,363,073 shares during the last quarter. Vanguard Group Inc. boosted its holdings in McDermott International by 31.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock worth $215,909,000 after acquiring an additional 7,129,111 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in McDermott International by 31.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,213,138 shares of the oil and gas company’s stock worth $122,938,000 after acquiring an additional 4,409,387 shares during the last quarter. LSV Asset Management boosted its holdings in McDermott International by 9.5% during the 2nd quarter. LSV Asset Management now owns 14,466,996 shares of the oil and gas company’s stock worth $103,728,000 after acquiring an additional 1,253,200 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in McDermott International by 5.7% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,980,706 shares of the oil and gas company’s stock worth $57,222,000 after acquiring an additional 427,908 shares during the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the stock. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a report on Friday, October 6th. BidaskClub downgraded shares of McDermott International from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Scotiabank reaffirmed a “buy” rating and set a $9.00 price objective 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, Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective on the stock in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $8.47.

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McDermott International (NYSE:MDR) last released its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS 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 company had revenue of $788.20 million during the quarter, compared to analysts’ expectations of $856.54 million. During the same period in the prior year, the company posted $0.07 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis.

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.

Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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