Dynamic Capital Management Ltd raised its position in shares of McDermott International, Inc. (NYSE:MDR) by 78.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 33,813 shares of the oil and gas company’s stock after buying an additional 14,898 shares during the period. Dynamic Capital Management Ltd’s holdings in McDermott International were worth $228,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in McDermott International by 14,922.4% in the first quarter. BlackRock Inc. now owns 16,838,867 shares of the oil and gas company’s stock worth $113,663,000 after buying an additional 16,726,775 shares during the period. LSV Asset Management boosted its stake in McDermott International by 57.5% in the first quarter. LSV Asset Management now owns 13,213,796 shares of the oil and gas company’s stock worth $89,193,000 after buying an additional 4,822,700 shares during the period. Dimensional Fund Advisors LP boosted its stake in McDermott International by 31.9% in the first quarter. Dimensional Fund Advisors LP now owns 18,213,138 shares of the oil and gas company’s stock worth $122,938,000 after buying an additional 4,409,387 shares during the period. Acadian Asset Management LLC boosted its stake in McDermott International by 67.7% in the first quarter. Acadian Asset Management LLC now owns 7,579,874 shares of the oil and gas company’s stock worth $51,165,000 after buying an additional 3,058,732 shares during the period. Finally, Norges Bank acquired a new stake in McDermott International during the fourth quarter worth approximately $14,152,000. Hedge funds and other institutional investors own 73.84% of the company’s stock.
Shares of McDermott International, Inc. (MDR) traded down 0.48% on Friday, hitting $6.28. The stock had a trading volume of 4,756,758 shares. The company’s 50 day moving average is $6.44 and its 200 day moving average is $7.03. McDermott International, Inc. has a one year low of $4.32 and a one year high of $8.33. The stock has a market cap of $1.78 billion, a PE ratio of 31.40 and a beta of 1.44.
McDermott International (NYSE:MDR) last announced its quarterly earnings data on Tuesday, April 25th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.07. McDermott International had a net margin of 2.40% and a return on equity of 4.75%. The company had revenue of $519.40 million during the quarter, compared to analysts’ expectations of $689.30 million. During the same quarter in the prior year, the company posted $0.13 EPS. The business’s revenue was down 28.8% on a year-over-year basis. Equities research analysts predict that McDermott International, Inc. will post $0.42 EPS for the current fiscal year.
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Several equities research analysts recently issued reports on the company. Deutsche Bank AG reiterated a “hold” rating and issued a $7.00 price objective (down from $8.00) on shares of McDermott International in a report on Saturday, April 22nd. Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective on the stock in a report on Friday, April 28th. Scotiabank reiterated a “hold” rating on shares of McDermott International in a report on Thursday, April 27th. Howard Weil upgraded McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. Finally, Scotia Howard Weill upgraded McDermott International from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $8.19.
About McDermott International
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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