Rhumbline Advisers Purchases 9,415 Shares of McDermott International, Inc. (MDR)
Rhumbline Advisers raised its position in McDermott International, Inc. (NYSE:MDR) by 1.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 572,293 shares of the oil and gas company’s stock after buying an additional 9,415 shares during the period. Rhumbline Advisers owned about 0.20% of McDermott International worth $4,161,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MDR. BlackRock Inc. boosted its position in 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 buying an additional 18,363,073 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 buying an additional 7,129,111 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in 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 buying an additional 2,717,602 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in McDermott International in the 2nd quarter valued at $17,846,000. Finally, Bank of New York Mellon Corp boosted its position in 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 buying an additional 2,286,320 shares during the last quarter. Hedge funds and other institutional investors own 86.11% of the company’s stock.
McDermott International, Inc. (NYSE:MDR) traded down $0.14 during trading hours on Wednesday, hitting $7.13. The stock had a trading volume of 457,185 shares, compared to its average volume of 3,090,444. McDermott International, Inc. has a 1-year low of $5.56 and a 1-year high of $8.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market cap of $2,095.99, a price-to-earnings ratio of 13.18 and a beta of 1.35.
McDermott International (NYSE:MDR) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The firm had revenue of $958.50 million for the quarter, compared to analyst estimates of $977.28 million. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The company’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. sell-side analysts predict that McDermott International, Inc. will post 0.53 earnings per share for the current year.
MDR has been the topic of several recent research reports. Zacks Investment Research lowered McDermott International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 25th. KeyCorp restated a “hold” rating on shares of McDermott International in a research report on Friday, November 10th. Credit Suisse Group reduced their price target on McDermott International from $7.60 to $7.30 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Scotiabank restated a “buy” rating and issued a $9.00 price target on shares of McDermott International in a research report on Wednesday, November 1st. Finally, BidaskClub lowered McDermott International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.94.
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McDermott International 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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