Principal Financial Group Inc. lowered its stake in shares of McDermott International, Inc. (NYSE:MDR) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,306,554 shares of the oil and gas company’s stock after selling 21,247 shares during the period. Principal Financial Group Inc. owned 0.81% of McDermott International worth $16,769,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of MDR. BlackRock Inc. boosted its stake in shares of McDermott International by 14,922.4% during the first quarter. BlackRock Inc. now owns 16,838,867 shares of the oil and gas company’s stock valued at $113,663,000 after acquiring an additional 16,726,775 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of McDermott International by 0.5% during the second quarter. Bank of Montreal Can now owns 727,206 shares of the oil and gas company’s stock valued at $5,214,000 after acquiring an additional 3,489 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of McDermott International during the second quarter valued at $830,000. Boston Advisors LLC boosted its stake in shares of McDermott International by 7.7% during the second quarter. Boston Advisors LLC now owns 657,295 shares of the oil and gas company’s stock valued at $4,713,000 after acquiring an additional 47,235 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of McDermott International during the second quarter valued at $501,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.
MDR has been the topic of several recent analyst reports. Scotiabank reiterated a “buy” rating and set a $9.00 target price on shares of McDermott International in a research report on Wednesday, November 1st. ValuEngine downgraded McDermott International from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 15th. KeyCorp reiterated a “hold” rating on shares of McDermott International in a research report on Friday, November 10th. Deutsche Bank AG reduced their target price on McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Finally, Zacks Investment Research upgraded McDermott International from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. McDermott International presently has a consensus rating of “Hold” and a consensus target price of $7.94.
McDermott International, Inc. (NYSE:MDR) traded down $0.08 during midday trading on Monday, reaching $7.32. The company had a trading volume of 736,900 shares, compared to its average volume of 3,136,291. McDermott International, Inc. has a 1 year low of $5.56 and a 1 year high of $8.33. The stock has a market capitalization of $2,078.95, a P/E ratio of 13.07 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.70 and a quick ratio of 1.70.
McDermott International (NYSE:MDR) last released its earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.14. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The firm had revenue of $958.50 million for the quarter, compared to the consensus estimate of $977.28 million. During the same period in the prior year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 71.6% compared to the same quarter last year. sell-side analysts predict that McDermott International, Inc. will post 0.53 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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