State of New Jersey Common Pension Fund D boosted its holdings in McDermott International Inc (NYSE:MDR) by 52.1% in the third quarter, HoldingsChannel.com reports. The firm owned 219,312 shares of the oil and gas company’s stock after acquiring an additional 75,100 shares during the period. State of New Jersey Common Pension Fund D’s holdings in McDermott International were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in shares of McDermott International by 120.5% during the first quarter. First Trust Advisors LP now owns 541,561 shares of the oil and gas company’s stock valued at $4,029,000 after acquiring an additional 295,904 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of McDermott International by 4.9% during the second quarter. Crossmark Global Holdings Inc. now owns 64,969 shares of the oil and gas company’s stock valued at $628,000 after acquiring an additional 3,055 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of McDermott International during the second quarter valued at $485,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of McDermott International by 1.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 71,903 shares of the oil and gas company’s stock valued at $695,000 after acquiring an additional 1,034 shares during the period. Finally, Sippican Capital Advisors boosted its holdings in shares of McDermott International by 15.3% during the second quarter. Sippican Capital Advisors now owns 56,313 shares of the oil and gas company’s stock valued at $544,000 after acquiring an additional 7,489 shares during the period. 87.74% of the stock is owned by hedge funds and other institutional investors.
Shares of MDR traded down $0.02 during midday trading on Tuesday, hitting $0.90. 181,726 shares of the stock traded hands, compared to its average volume of 18,576,938. McDermott International Inc has a 1-year low of $0.88 and a 1-year high of $10.99. The firm has a market capitalization of $175.86 million, a PE ratio of -0.90 and a beta of 3.15. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.39 and a current ratio of 0.40. The business’s 50 day moving average price is $1.83 and its two-hundred day moving average price is $5.76.
Several brokerages have recently issued reports on MDR. ValuEngine downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Citigroup reduced their price target on shares of McDermott International from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th.
About McDermott International
McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.
Featured Story: What does it mean to hold a stock in street name?
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.