Prudential Financial Inc. decreased its holdings in shares of McDermott International, Inc. (NYSE:MDR) by 50.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,977,550 shares of the oil and gas company’s stock after selling 3,006,667 shares during the period. Prudential Financial Inc. owned about 1.05% of McDermott International worth $21,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP bought a new position in shares of McDermott International in the first quarter valued at approximately $1,324,000. Vanguard Group Inc. raised 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 valued at $155,139,000 after acquiring an additional 703,996 shares during the last quarter. BlackRock Inc. raised its stake in shares of McDermott International by 14,922.4% in the first quarter. BlackRock Inc. now owns 16,838,867 shares of the oil and gas company’s stock valued at $113,663,000 after acquiring an additional 16,726,775 shares during the last quarter. State Street Corp raised its stake in shares of McDermott International by 6.6% in the first quarter. State Street Corp now owns 6,107,664 shares of the oil and gas company’s stock valued at $41,228,000 after acquiring an additional 379,996 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in shares of McDermott International by 8.4% in the first quarter. Tudor Investment Corp ET AL now owns 36,018 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 2,787 shares during the last quarter. Hedge funds and other institutional investors own 84.35% of the company’s stock.

McDermott International, Inc. (NYSE:MDR) opened at $7.01 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. McDermott International, Inc. has a 1 year low of $5.56 and a 1 year high of $8.33. The firm has a market cap of $1,990.00, a P/E ratio of 12.63 and a beta of 1.32.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.14. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The firm had revenue of $958.50 million during the quarter, compared to analysts’ expectations of $977.28 million. During the same quarter in the previous year, the company posted $0.09 EPS. McDermott International’s revenue was up 71.6% on a year-over-year basis. analysts expect that McDermott International, Inc. will post 0.53 earnings per share for the current fiscal year.

MDR has been the subject of a number of research analyst reports. TheStreet upgraded shares of McDermott International from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Scotiabank reiterated a “buy” rating and issued a $9.00 target price on shares of McDermott International in a research note on Wednesday, November 1st. ValuEngine cut shares of McDermott International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Deutsche Bank AG cut their target price on shares of McDermott International from $6.50 to $5.25 and set a “hold” rating for the company in a research note on Tuesday, October 24th. Finally, KeyCorp reiterated a “hold” rating on shares of McDermott International in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $7.94.

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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.

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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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