McDermott International, Inc. (MDR) Position Boosted by ClariVest Asset Management LLC
ClariVest Asset Management LLC increased its position in shares of McDermott International, Inc. (NYSE:MDR) by 15.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 979,239 shares of the oil and gas company’s stock after buying an additional 134,114 shares during the period. ClariVest Asset Management LLC owned 0.34% of McDermott International worth $7,119,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of MDR. Private Advisor Group LLC acquired a new position in McDermott International during the second quarter worth $106,000. Everence Capital Management Inc. acquired a new position in McDermott International during the second quarter worth $116,000. HighTower Advisors LLC increased its holdings in McDermott International by 13.0% during the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,000 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in McDermott International by 234.0% during the third quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock worth $117,000 after buying an additional 11,310 shares during the last quarter. Finally, World Asset Management Inc acquired a new position in McDermott International during the second quarter worth $134,000. Institutional investors and hedge funds own 84.35% of the company’s stock.
McDermott International, Inc. (MDR) traded up $0.14 during mid-day trading on Friday, reaching $7.15. 1,335,293 shares of the company’s stock were exchanged, compared to its average volume of 2,676,966. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70. McDermott International, Inc. has a 1 year low of $5.56 and a 1 year high of $8.33. The company has a market capitalization of $2,030.66, a PE ratio of 12.77 and a beta of 1.32.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.14. The firm had revenue of $958.50 million during the quarter, compared to analysts’ expectations of $977.28 million. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The company’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. research analysts expect that McDermott International, Inc. will post 0.53 EPS for the current fiscal year.
A number of equities analysts recently weighed in on MDR shares. BidaskClub downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Scotiabank restated a “buy” rating and set a $9.00 target price on shares of McDermott International in a report on Friday, July 28th. KeyCorp restated a “hold” rating on shares of McDermott International in a report on Friday, August 25th. Finally, Deutsche Bank AG reduced their price objective on shares of McDermott International from $6.50 to $5.25 and set a “hold” rating for the company in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. McDermott International has a consensus rating of “Hold” and a consensus target price of $7.94.
McDermott International Company Profile
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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