American Century Companies Inc. lifted its stake in shares of McDermott International, Inc. (NYSE:MDR) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,081,341 shares of the oil and gas company’s stock after purchasing an additional 38,927 shares during the period. American Century Companies Inc. owned about 0.38% of McDermott International worth $7,861,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in MDR. BlackRock Inc. grew its stake in McDermott International by 109.1% during 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 acquiring an additional 18,363,073 shares in the last quarter. Vanguard Group Inc. grew its stake in McDermott International by 31.0% during 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 acquiring an additional 7,129,111 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in McDermott International by 14.9% during 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 acquiring an additional 2,717,602 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in McDermott International during the 2nd quarter valued at about $17,846,000. Finally, Bank of New York Mellon Corp grew its stake in McDermott International by 138.3% during 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 acquiring an additional 2,286,320 shares in the last quarter. 86.11% of the stock is owned by institutional investors and hedge funds.
Shares of McDermott International, Inc. (NYSE MDR) traded down $0.17 during mid-day trading on Wednesday, hitting $7.10. 1,266,009 shares of the stock traded hands, compared to its average volume of 3,082,681. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70. McDermott International, Inc. has a 52-week low of $5.56 and a 52-week high of $8.33. The firm 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 issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 EPS 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 for the quarter, compared to analyst estimates of $977.28 million. During the same period in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 71.6% compared to the same quarter last year. analysts forecast that McDermott International, Inc. will post 0.53 EPS for the current fiscal year.
Several analysts recently issued reports on the stock. ValuEngine raised shares of McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 6th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a research note on Friday, November 10th. UBS upped their price objective on shares of McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Zacks Investment Research upgraded shares of McDermott International from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Credit Suisse Group decreased their target price on shares of McDermott International from $7.60 to $7.30 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $7.94.
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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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