Teacher Retirement System of Texas raised its position in shares of McDermott International, Inc. (NYSE:MDR) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,136 shares of the oil and gas company’s stock after buying an additional 849 shares during the period. Teacher Retirement System of Texas’ holdings in McDermott International were worth $129,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC World Markets Inc. purchased a new position in McDermott International during the first quarter worth $101,000. O Shaughnessy Asset Management LLC purchased a new position in McDermott International during the first quarter worth $128,000. Stratos Wealth Partners LTD. purchased a new position in McDermott International during the first quarter worth $139,000. Advisory Services Network LLC purchased a new position in McDermott International during the first quarter worth $165,000. Finally, Schroder Investment Management Group increased its position in McDermott International by 800.0% in the first quarter. Schroder Investment Management Group now owns 26,100 shares of the oil and gas company’s stock worth $174,000 after buying an additional 23,200 shares during the period. 73.98% of the stock is currently owned by institutional investors.
McDermott International, Inc. (NYSE:MDR) traded down 0.87% during trading on Friday, hitting $6.87. The stock had a trading volume of 3,246,798 shares. McDermott International, Inc. has a 1-year low of $4.41 and a 1-year high of $8.33. The stock’s 50-day moving average price is $7.00 and its 200-day moving average price is $6.96. The company has a market capitalization of $1.95 billion, a P/E ratio of 26.42 and a beta of 1.38.
McDermott International (NYSE:MDR) last announced its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The firm had revenue of $788.20 million during the quarter, compared to analysts’ expectations of $856.54 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. McDermott International’s revenue was up 11.5% on a year-over-year basis. Analysts expect that McDermott International, Inc. will post $0.42 earnings per share for the current year.
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A number of analysts have commented on the company. TheStreet raised McDermott International from a “c” rating to a “b-” rating in a report on Tuesday. Scotiabank raised McDermott International from a “sector perform” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, May 25th. BidaskClub raised McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine lowered McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $7.00 price objective (down from $8.00) on shares of McDermott International in a report on Saturday, April 22nd. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.29.
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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