Sippican Capital Advisors raised its position in shares of McDermott International Inc (NYSE:MDR) by 20.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,824 shares of the oil and gas company’s stock after acquiring an additional 8,382 shares during the period. Sippican Capital Advisors’ holdings in McDermott International were worth $363,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of McDermott International by 0.5% during the fourth quarter. BlackRock Inc. now owns 21,200,739 shares of the oil and gas company’s stock valued at $138,654,000 after buying an additional 109,088 shares during the last quarter. Vanguard Group Inc boosted its stake in McDermott International by 0.5% in the third quarter. Vanguard Group Inc now owns 15,799,391 shares of the oil and gas company’s stock valued at $291,183,000 after acquiring an additional 84,954 shares during the last quarter. Vanguard Group Inc. boosted its stake in McDermott International by 0.5% in the third quarter. Vanguard Group Inc. now owns 15,799,391 shares of the oil and gas company’s stock valued at $291,183,000 after acquiring an additional 84,954 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in McDermott International by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,234,912 shares of the oil and gas company’s stock valued at $60,399,000 after acquiring an additional 269,091 shares during the last quarter. Finally, LSV Asset Management raised its holdings in McDermott International by 16.4% in the fourth quarter. LSV Asset Management now owns 6,957,866 shares of the oil and gas company’s stock worth $45,504,000 after purchasing an additional 980,717 shares during the period. Institutional investors own 88.60% of the company’s stock.
MDR stock traded up $0.12 during trading on Wednesday, reaching $10.41. 70,988 shares of the company were exchanged, compared to its average volume of 4,501,572. McDermott International Inc has a twelve month low of $6.10 and a twelve month high of $23.36. The company has a debt-to-equity ratio of 4.20, a current ratio of 0.72 and a quick ratio of 0.70. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -10.44 and a beta of 2.73.
McDermott International (NYSE:MDR) last issued its earnings results on Monday, February 25th. The oil and gas company reported ($1.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($1.76). The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.64 billion. McDermott International had a negative return on equity of 3.20% and a negative net margin of 40.07%. The firm’s revenue was up 188.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that McDermott International Inc will post 1.69 EPS for the current fiscal year.
A number of equities research analysts recently commented on the stock. TheStreet lowered shares of McDermott International from a “c-” rating to a “d” rating in a report on Monday, March 11th. Zacks Investment Research raised shares of McDermott International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, ValuEngine raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.50.
McDermott International 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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