50,000 Shares in McDermott International Inc (MDR) Purchased by Glacier Peak Capital LLC

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.

McDermott International (NYSE:MDR) last issued its quarterly earnings data on Tuesday, April 24th. The oil and gas company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.18. The business had revenue of $607.82 million for the quarter, compared to the consensus estimate of $610.00 million. McDermott International had a net margin of 6.24% and a return on equity of 11.91%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. analysts predict that McDermott International Inc will post 1.47 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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