Arizona State Retirement System bought a new position in McDermott International, Inc. (NYSE:MDR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 147,000 shares of the oil and gas company’s stock, valued at approximately $1,054,000. Arizona State Retirement System owned about 0.05% of McDermott International as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in McDermott International by 14,922.4% in the first quarter. BlackRock Inc. now owns 16,838,867 shares of the oil and gas company’s stock worth $113,663,000 after buying an additional 16,726,775 shares in the last quarter. LSV Asset Management raised its stake in McDermott International by 57.5% in the first quarter. LSV Asset Management now owns 13,213,796 shares of the oil and gas company’s stock worth $89,193,000 after buying an additional 4,822,700 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in McDermott International by 31.9% in the first quarter. Dimensional Fund Advisors LP now owns 18,213,138 shares of the oil and gas company’s stock worth $122,938,000 after buying an additional 4,409,387 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in McDermott International by 44.5% in the first quarter. TIAA CREF Investment Management LLC now owns 2,532,464 shares of the oil and gas company’s stock worth $17,094,000 after buying an additional 780,096 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in McDermott International by 3.2% in the first quarter. Vanguard Group Inc. now owns 22,983,621 shares of the oil and gas company’s stock worth $155,139,000 after buying an additional 703,996 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.

Shares of McDermott International, Inc. (MDR) opened at 5.96 on Wednesday. McDermott International, Inc. has a 1-year low of $4.41 and a 1-year high of $8.33. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 22.92 and a beta of 1.37. The firm has a 50-day moving average of $6.66 and a 200 day moving average of $6.73.

McDermott International (NYSE:MDR) last released its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $788.20 million during the quarter, compared to analyst estimates of $856.54 million. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. Equities research analysts forecast that McDermott International, Inc. will post $0.42 earnings per share for the current year.

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A number of equities research analysts recently weighed in on MDR shares. Zacks Investment Research upgraded shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a report on Thursday, July 20th. BidaskClub upgraded shares of McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Scotia Howard Weill upgraded shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. Howard Weil upgraded shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 25th. Finally, TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.29.

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

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