McDermott International, Inc. (MDR) Shares Sold by Chicago Equity Partners LLC
Chicago Equity Partners LLC cut its position in shares of McDermott International, Inc. (NYSE:MDR) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 751,900 shares of the oil and gas company’s stock after selling 37,665 shares during the period. Chicago Equity Partners LLC owned about 0.26% of McDermott International worth $5,391,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in MDR. CIBC World Markets Inc. bought a new stake in McDermott International during the first quarter worth about $101,000. Everence Capital Management Inc. bought a new stake in McDermott International during the second quarter worth about $116,000. HighTower Advisors LLC increased its stake in McDermott International by 13.0% in 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 period. World Asset Management Inc bought a new stake in McDermott International during the second quarter worth about $134,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in McDermott International during the first quarter worth about $128,000. 87.55% of the stock is currently owned by institutional investors and hedge funds.
McDermott International, Inc. (NYSE MDR) opened at 6.21 on Friday. McDermott International, Inc. has a one year low of $4.41 and a one year high of $8.33. The firm has a market cap of $1.76 billion, a PE ratio of 23.88 and a beta of 1.40. The stock has a 50 day moving average of $6.48 and a 200 day moving average of $6.67.
McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $788.20 million for the quarter, compared to analysts’ expectations of $856.54 million. McDermott International had a net margin of 2.95% and a return on equity of 5.55%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS. On average, equities analysts forecast that McDermott International, Inc. will post $0.42 earnings per share for the current year.
A number of research analysts recently weighed in on the stock. Scotiabank restated a “buy” rating and issued a $9.00 price objective 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. BidaskClub cut shares of McDermott International from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. ValuEngine cut shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. McDermott International has a consensus rating of “Hold” and a consensus price target of $8.29.
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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