Glacier Peak Capital LLC acquired a new position in McDermott International Inc (NYSE:MDR) in the first quarter, Holdings Channel reports. The firm acquired 50,000 shares of the oil and gas company’s stock, valued at approximately $913,000.
A number of other large investors have also recently bought and sold shares of MDR. Franklin Resources Inc. raised its holdings in McDermott International by 395.7% during the 1st quarter. Franklin Resources Inc. now owns 10,997,297 shares of the oil and gas company’s stock valued at $66,973,000 after buying an additional 8,778,897 shares during the last quarter. Systematic Financial Management LP raised its holdings in McDermott International by 1,024.0% during the 1st quarter. Systematic Financial Management LP now owns 2,434,983 shares of the oil and gas company’s stock valued at $14,829,000 after buying an additional 2,218,343 shares during the last quarter. Renaissance Technologies LLC bought a new stake in McDermott International during the 4th quarter valued at $12,626,000. Clearline Capital LP bought a new stake in McDermott International during the 4th quarter valued at $8,943,000. Finally, Russell Investments Group Ltd. raised its holdings in McDermott International by 96.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,622,244 shares of the oil and gas company’s stock valued at $15,968,000 after buying an additional 1,290,299 shares during the last quarter. Institutional investors own 25.43% of the company’s stock.
McDermott International stock traded down $0.08 during mid-day trading on Thursday, reaching $20.68. 7,600 shares of the company traded hands, compared to its average volume of 4,186,376. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.97 billion, a P/E ratio of 10.81 and a beta of 1.91. McDermott International Inc has a 52-week low of $16.14 and a 52-week high of $27.21.
A number of equities research analysts recently commented on the stock. ValuEngine upgraded shares of McDermott International from a “buy” rating to a “strong-buy” rating in a report on Friday, May 11th. Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Credit Suisse Group upped their price target on shares of McDermott International from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 24th. Deutsche Bank lowered their price target on shares of McDermott International from $27.90 to $24.90 and set a “hold” rating for the company in a report on Thursday, February 22nd. Finally, Alembic Global Advisors set a $33.00 price target on shares of McDermott International and gave the company a “buy” rating in a report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. McDermott International presently has a consensus rating of “Hold” and a consensus target price of $25.56.
McDermott International Company Profile
McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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.
Want to see what other hedge funds are holding MDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDermott International Inc (NYSE:MDR).
Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.