MRC Global (NYSE:MRC)‘s stock had its “buy” rating reiterated by analysts at Alembic Global Advisors in a report released on Tuesday.
A number of other analysts also recently issued reports on MRC. Stephens set a $24.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a report on Saturday. Zacks Investment Research downgraded shares of MRC Global from a “hold” rating to a “strong sell” rating in a report on Monday, January 8th. ValuEngine downgraded shares of MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Cowen dropped their price objective on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Finally, Susquehanna Bancshares set a $21.00 price objective on shares of MRC Global and gave the stock a “buy” rating in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $21.00.
Shares of MRC Global (MRC) opened at $16.51 on Tuesday. MRC Global has a fifty-two week low of $14.01 and a fifty-two week high of $22.20. The company has a current ratio of 2.31, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1,528.25, a price-to-earnings ratio of 61.15, a PEG ratio of 1.76 and a beta of 1.56.
MRC Global declared that its Board of Directors has approved a share repurchase program on Thursday, November 2nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other MRC Global news, CEO Andrew R. Lane sold 293,154 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $19.00, for a total value of $5,569,926.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Lane sold 180,621 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $19.00, for a total transaction of $3,431,799.00. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in MRC. Public Employees Retirement Association of Colorado purchased a new position in shares of MRC Global in the fourth quarter valued at about $120,000. MHI Funds LLC purchased a new position in shares of MRC Global in the fourth quarter valued at about $171,000. Knightsbridge Asset Management LLC purchased a new position in shares of MRC Global in the fourth quarter valued at about $195,000. Koch Industries Inc. purchased a new position in shares of MRC Global in the fourth quarter valued at about $217,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of MRC Global in the third quarter valued at about $276,000. Hedge funds and other institutional investors own 93.70% of the company’s stock.
MRC Global Company Profile
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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