McDermott International (MDR) Trading Down 11.9%
Shares of McDermott International Inc (NYSE:MDR) fell 11.9% during trading on Tuesday . The stock traded as low as $6.68 and last traded at $6.69. 24,373,000 shares were traded during trading, an increase of 674% from the average session volume of 3,148,896 shares. The stock had previously closed at $7.59.
Several brokerages recently commented on MDR. ValuEngine raised McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 6th. UBS raised their price objective on McDermott International from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Deutsche Bank dropped their price objective on McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. Morgan Stanley reaffirmed a “sell” rating on shares of McDermott International in a research note on Wednesday. Finally, KeyCorp reissued a “hold” rating on shares of McDermott International in a research note on Friday, October 6th. Two analysts have 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 presently has an average rating of “Hold” and a consensus target price of $7.59.
The stock has a market cap of $1,900.14, a P/E ratio of 11.95 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MDR. BlackRock Inc. raised its stake in shares of McDermott International by 109.1% in the 2nd quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock valued at $252,397,000 after purchasing an additional 18,363,073 shares during the period. Vanguard Group Inc. grew its holdings in shares of McDermott International by 31.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after acquiring an additional 7,129,111 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of McDermott International by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 20,930,740 shares of the oil and gas company’s stock valued at $150,072,000 after acquiring an additional 2,717,602 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of McDermott International in the 2nd quarter valued at about $17,846,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of McDermott International by 138.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,939,387 shares of the oil and gas company’s stock valued at $28,246,000 after acquiring an additional 2,286,320 shares in the last quarter. 86.00% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This report was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.watchlistnews.com/mcdermott-international-mdr-trading-down-11-9/1776313.html.
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.
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.