Shares of MRC Global Inc (NYSE:MRC) have been given an average recommendation of “Buy” by the eleven ratings firms that are covering the firm. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.33.
MRC has been the topic of several research reports. Evercore ISI raised their price objective on MRC Global to $25.00 in a report on Wednesday, February 22nd. Raymond James Financial, Inc. raised MRC Global from a “market perform” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, April 19th. Seaport Global Securities raised MRC Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $25.00 in a research report on Tuesday, February 21st. TheStreet raised MRC Global from a “d+” rating to a “c” rating in a research report on Thursday, February 16th. Finally, Zacks Investment Research cut MRC Global from a “buy” rating to a “hold” rating in a research report on Tuesday, February 7th.
In other news, EVP Daniel J. Churay sold 3,080 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $21.30, for a total value of $65,604.00. Following the completion of the sale, the executive vice president now owns 63,349 shares of the company’s stock, valued at approximately $1,349,333.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of MRC. BlackRock Inc. boosted its stake in MRC Global by 17,937.8% in the first quarter. BlackRock Inc. now owns 7,126,027 shares of the oil and gas company’s stock worth $130,618,000 after buying an additional 7,086,521 shares during the last quarter. FMR LLC boosted its stake in MRC Global by 205.7% in the fourth quarter. FMR LLC now owns 7,216,744 shares of the oil and gas company’s stock worth $146,212,000 after buying an additional 4,855,911 shares during the last quarter. Norges Bank acquired a new stake in MRC Global during the fourth quarter worth $32,826,000. FIL Ltd boosted its stake in MRC Global by 373.3% in the fourth quarter. FIL Ltd now owns 1,934,933 shares of the oil and gas company’s stock worth $39,202,000 after buying an additional 1,526,116 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new stake in MRC Global during the fourth quarter worth $27,882,000.
Shares of MRC Global (NYSE:MRC) traded up 1.78% during mid-day trading on Monday, reaching $20.55. The company had a trading volume of 1,271,262 shares. MRC Global has a 12-month low of $11.50 and a 12-month high of $22.52. The stock has a 50 day moving average price of $18.59 and a 200 day moving average price of $19.35. The firm’s market capitalization is $1.94 billion.
MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, May 4th. The oil and gas company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The company had revenue of $862 million for the quarter, compared to the consensus estimate of $798.38 million. MRC Global had a negative return on equity of 0.01% and a negative net margin of 13.92%. MRC Global’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted ($0.10) EPS. On average, equities analysts forecast that MRC Global will post $0.22 earnings per share for the current year.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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