NJ State Employees Deferred Compensation Plan held its stake in shares of McDermott International, Inc. (NYSE:MDR) during the second quarter, Holdings Channel reports. The fund owned 35,000 shares of the oil and gas company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in McDermott International were worth $251,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MDR. Highbridge Capital Management LLC bought a new stake in shares of McDermott International during the first quarter worth $1,934,000. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Hennessy Advisors Inc. bought a new stake in shares of McDermott International during the first quarter worth $3,312,000. Sei Investments Co. boosted its stake in shares of McDermott International by 104.7% in the first quarter. Sei Investments Co. now owns 31,741 shares of the oil and gas company’s stock worth $214,000 after buying an additional 16,233 shares during the period. Finally, Creative Planning boosted its stake in shares of McDermott International by 274.0% in the first quarter. Creative Planning now owns 155,625 shares of the oil and gas company’s stock worth $1,050,000 after buying an additional 114,016 shares during the period. 73.82% of the stock is owned by hedge funds and other institutional investors.

Shares of McDermott International, Inc. (MDR) opened at 6.58 on Thursday. The stock has a market capitalization of $1.87 billion, a PE ratio of 25.31 and a beta of 1.37. McDermott International, Inc. has a one year low of $4.41 and a one year high of $8.33. The stock has a 50 day moving average of $7.05 and a 200-day moving average of $6.91.

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

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MDR has been the subject of a number of research reports. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target for the company in a research report on Thursday, July 20th. Howard Weil raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. Scotia Howard Weill raised shares of McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. BidaskClub raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Scotiabank reaffirmed a “hold” rating on shares of McDermott International in a report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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