Cetera Advisors LLC boosted its holdings in McDermott International Inc (NYSE:MDR) by 9.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,678 shares of the oil and gas company’s stock after purchasing an additional 2,411 shares during the quarter. Cetera Advisors LLC’s holdings in McDermott International were worth $197,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brave Asset Management Inc. raised its holdings in shares of McDermott International by 79.2% during the first quarter. Brave Asset Management Inc. now owns 21,500 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 9,500 shares in the last quarter. Boston Partners raised its holdings in McDermott International by 15.2% in the first quarter. Boston Partners now owns 1,268,107 shares of the oil and gas company’s stock worth $9,435,000 after purchasing an additional 166,907 shares in the last quarter. Stevens Capital Management LP bought a new position in McDermott International in the first quarter worth $611,000. Investment Management of Virginia LLC raised its holdings in McDermott International by 1.9% in the first quarter. Investment Management of Virginia LLC now owns 775,529 shares of the oil and gas company’s stock worth $5,770,000 after purchasing an additional 14,817 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new position in McDermott International in the first quarter worth $153,000. 86.56% of the stock is currently owned by hedge funds and other institutional investors.
MDR traded down $0.11 on Friday, hitting $7.60. 3,105,500 shares of the company’s stock traded hands, compared to its average volume of 4,925,247. The company has a market capitalization of $1.40 billion, a PE ratio of -7.68 and a beta of 2.80. McDermott International Inc has a one year low of $5.91 and a one year high of $21.09. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.61.
McDermott International (NYSE:MDR) last announced its earnings results on Monday, April 29th. The oil and gas company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.07). McDermott International had a negative return on equity of 5.13% and a negative net margin of 33.44%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the firm posted $0.51 EPS. McDermott International’s revenue for the quarter was up 263.7% compared to the same quarter last year. Equities research analysts predict that McDermott International Inc will post 1.66 earnings per share for the current year.
MDR has been the topic of a number of recent research reports. ValuEngine raised McDermott International from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. TheStreet cut McDermott International from a “c-” rating to a “d” rating in a research note on Monday, March 11th. Finally, Zacks Investment Research cut McDermott International from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. McDermott International currently has an average rating of “Hold” and a consensus target price of $23.50.
McDermott International Company Profile
McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.
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