17,500 Shares in McDermott International Inc (MDR) Purchased by Icon Wealth Partners LLC
Icon Wealth Partners LLC purchased a new position in shares of McDermott International Inc (NYSE:MDR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,500 shares of the oil and gas company’s stock, valued at approximately $115,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDR. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in McDermott International by 93.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock worth $111,000 after buying an additional 8,176 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in McDermott International during the third quarter worth $112,000. Raymond James Financial Services Advisors Inc. purchased a new stake in McDermott International during the fourth quarter worth $118,000. Bank of Stockton purchased a new stake in McDermott International during the fourth quarter worth $163,000. Finally, Meeder Asset Management Inc. boosted its holdings in McDermott International by 73.5% during the fourth quarter. Meeder Asset Management Inc. now owns 28,004 shares of the oil and gas company’s stock worth $185,000 after buying an additional 11,860 shares in the last quarter. 96.52% of the stock is currently owned by hedge funds and other institutional investors.
McDermott International Inc (NYSE:MDR) opened at $7.38 on Monday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2,096.16, a price-to-earnings ratio of 11.53 and a beta of 1.68. McDermott International Inc has a 12-month low of $5.56 and a 12-month high of $9.07.
A number of analysts recently issued reports on the stock. ValuEngine raised shares of McDermott International from a “hold” rating to a “buy” rating in a report on Thursday. Alembic Global Advisors set a $11.00 price target on shares of McDermott International and gave the stock a “buy” rating in a report on Thursday, February 22nd. Credit Suisse Group reissued a “neutral” rating and set a $8.80 price target (up from $7.30) on shares of McDermott International in a report on Thursday, February 22nd. Deutsche Bank lowered their price target on shares of McDermott International from $9.30 to $8.30 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Finally, Zacks Investment Research downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.01.
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.
Want to see what other hedge funds are holding MDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDermott International Inc (NYSE:MDR).
Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.