MRC Global (NYSE:MRC) Given New $15.00 Price Target at Stifel Nicolaus

MRC Global (NYSE:MRC) had its target price raised by Stifel Nicolaus from $14.00 to $15.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Other analysts have also issued reports about the company. Susquehanna reissued a “positive” rating and issued a $16.00 price objective on shares of MRC Global in a report on Wednesday, June 26th. StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 10th.

MRC Global Stock Down 0.5 %

Shares of MRC Global stock opened at $12.60 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.07 billion, a P/E ratio of 14.65 and a beta of 1.97. MRC Global has a fifty-two week low of $9.47 and a fifty-two week high of $14.91. The business has a 50-day moving average price of $12.52 and a 200 day moving average price of $12.72.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $832.00 million during the quarter, compared to analyst estimates of $831.32 million. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. MRC Global’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. On average, sell-side analysts forecast that MRC Global will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MRC Global

Several institutional investors have recently made changes to their positions in MRC. BNP Paribas Financial Markets grew its holdings in shares of MRC Global by 4.0% during the first quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock valued at $986,000 after purchasing an additional 2,994 shares during the last quarter. Pzena Investment Management LLC grew its holdings in MRC Global by 5.1% in the 1st quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after buying an additional 358,580 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in MRC Global by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 263,573 shares of the oil and gas company’s stock worth $3,313,000 after buying an additional 4,047 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in MRC Global in the 1st quarter worth approximately $201,000. Finally, Russell Investments Group Ltd. grew its holdings in MRC Global by 13.5% in the 1st quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company’s stock worth $2,049,000 after buying an additional 19,369 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.