Wells Fargo & Company MN decreased its position in McDermott International Inc (NYSE:MDR) by 44.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 945,708 shares of the oil and gas company’s stock after selling 765,713 shares during the period. Wells Fargo & Company MN owned about 0.52% of McDermott International worth $9,135,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cooper Creek Partners Management LLC acquired a new position in McDermott International during the first quarter worth about $5,454,000. 361 Capital LLC acquired a new position in McDermott International during the first quarter worth about $2,526,000. First Trust Advisors LP boosted its position in 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 worth $4,029,000 after acquiring an additional 295,904 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in McDermott International by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,234,912 shares of the oil and gas company’s stock worth $60,399,000 after acquiring an additional 269,091 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in McDermott International by 485.4% during the first quarter. Trexquant Investment LP now owns 301,663 shares of the oil and gas company’s stock worth $2,244,000 after acquiring an additional 250,131 shares during the last quarter. 89.12% of the stock is owned by institutional investors.
NYSE:MDR traded down $0.28 on Friday, hitting $5.84. The stock had a trading volume of 246,485 shares, compared to its average volume of 6,320,472. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 7.01. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -5.93 and a beta of 3.23. The company has a fifty day moving average price of $5.45 and a two-hundred day moving average price of $7.57. McDermott International Inc has a 1-year low of $3.83 and a 1-year high of $19.44.
McDermott International (NYSE:MDR) last posted its earnings results on Monday, July 29th. The oil and gas company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.15). The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.25 billion. McDermott International had a negative net margin of 33.95% and a negative return on equity of 12.08%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, analysts anticipate that McDermott International Inc will post -0.33 earnings per share for the current year.
Several equities analysts have weighed in on the stock. ValuEngine lowered shares of McDermott International from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Citigroup decreased their target price on shares of McDermott International from $11.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday.
McDermott International Company Profile
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.
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