MRC Global (NYSE:MRC) Price Target Lowered to $15.00 at Susquehanna

MRC Global (NYSE:MRC) had its price objective dropped by stock analysts at Susquehanna from $17.00 to $15.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective points to a potential upside of 25.62% from the stock’s current price.

Separately, Stifel Nicolaus lowered their target price on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday.

MRC Global Stock Performance

Shares of MRC traded up $0.44 during mid-day trading on Monday, reaching $11.94. The company had a trading volume of 131,437 shares, compared to its average volume of 564,347. The stock has a market capitalization of $1.02 billion, a P/E ratio of 13.70 and a beta of 1.96. MRC Global has a 52-week low of $9.42 and a 52-week high of $15.41. The stock has a 50 day moving average of $13.16 and a two-hundred day moving average of $13.01. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $736.80 million for the quarter, compared to analyst estimates of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, analysts expect that MRC Global will post 0.86 earnings per share for the current year.

MRC Global declared that its board has initiated a stock buyback plan on Friday, January 3rd that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank acquired a new position in shares of MRC Global during the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC increased its position in shares of MRC Global by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in MRC Global in the 4th quarter valued at $56,000. Quantinno Capital Management LP purchased a new position in MRC Global in the 4th quarter valued at $129,000. Finally, Longboard Asset Management LP acquired a new stake in MRC Global during the 4th quarter worth $134,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

About MRC Global

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.