Profund Advisors LLC Takes Position in McDermott International, Inc. (MDR)
Profund Advisors LLC purchased a new position in McDermott International, Inc. (NYSE:MDR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,629 shares of the oil and gas company’s stock, valued at approximately $341,000.
Several other institutional investors have also made changes to their positions in MDR. BlackRock Inc. grew its holdings in shares of McDermott International by 109.1% during the second quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after buying an additional 18,363,073 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of McDermott International by 31.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,213,138 shares of the oil and gas company’s stock worth $122,938,000 after buying an additional 4,409,387 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of McDermott International during the second quarter worth about $17,846,000. Bank of New York Mellon Corp grew its holdings in shares of McDermott International by 138.3% during the second quarter. Bank of New York Mellon Corp now owns 3,939,387 shares of the oil and gas company’s stock worth $28,246,000 after buying an additional 2,286,320 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of McDermott International by 2,372.2% during the second quarter. Principal Financial Group Inc. now owns 2,327,801 shares of the oil and gas company’s stock worth $16,691,000 after buying an additional 2,233,643 shares in the last quarter. Institutional investors own 87.09% of the company’s stock.
McDermott International, Inc. (MDR) opened at 7.19 on Friday. The company’s 50-day moving average price is $6.57 and its 200 day moving average price is $6.62. McDermott International, Inc. has a 12 month low of $4.96 and a 12 month high of $8.33. The firm has a market capitalization of $2.04 billion, a PE ratio of 27.65 and a beta of 1.41.
McDermott International (NYSE:MDR) last issued its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The company had revenue of $788.20 million for 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 business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share. On average, equities research analysts predict that McDermott International, Inc. will post $0.42 earnings per share for the current year.
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A number of research analysts recently issued reports on MDR shares. BidaskClub upgraded McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. KeyCorp reiterated a “hold” rating on shares of McDermott International in a report on Friday, August 25th. Scotiabank reiterated a “buy” rating and set a $9.00 price objective on shares of McDermott International in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective for the company in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. McDermott International currently has a consensus rating of “Hold” and a consensus price target of $8.47.
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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