Callahan Advisors LLC purchased a new stake in McDermott International Inc (NYSE:MDR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,944 shares of the oil and gas company’s stock, valued at approximately $96,000.

Several other hedge funds also recently bought and sold shares of MDR. Bank of New York Mellon Corp lifted its stake in shares of McDermott International by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,239,207 shares of the oil and gas company’s stock valued at $41,269,000 after purchasing an additional 45,519 shares during the period. Jefferies Group LLC bought a new stake in shares of McDermott International in the 3rd quarter valued at $185,000. Jane Street Group LLC bought a new stake in shares of McDermott International in the 3rd quarter valued at $621,000. Man Group plc increased its position in shares of McDermott International by 34.4% in the 3rd quarter. Man Group plc now owns 321,587 shares of the oil and gas company’s stock valued at $5,927,000 after buying an additional 82,382 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of McDermott International by 892.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,250,422 shares of the oil and gas company’s stock valued at $59,905,000 after buying an additional 2,922,760 shares in the last quarter. 88.60% of the stock is currently owned by institutional investors.

A number of research firms recently commented on MDR. TheStreet cut shares of McDermott International from a “c-” rating to a “d” rating in a research report on Monday, March 11th. ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research upgraded shares of McDermott International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.50.

MDR opened at $10.21 on Tuesday. The company has a debt-to-equity ratio of 4.20, a current ratio of 0.72 and a quick ratio of 0.70. McDermott International Inc has a 12 month low of $6.10 and a 12 month high of $23.36. The firm has a market capitalization of $1.84 billion, a P/E ratio of -10.31 and a beta of 2.73.

McDermott International (NYSE:MDR) last released its earnings results on Monday, February 25th. The oil and gas company reported ($1.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($1.76). The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.64 billion. McDermott International had a negative return on equity of 3.20% and a negative net margin of 40.07%. McDermott International’s revenue for the quarter was up 188.7% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. As a group, sell-side analysts forecast that McDermott International Inc will post 1.69 earnings per share for the current fiscal year.

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About McDermott International

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

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