Other research analysts have also recently issued reports about the stock. Cowen set a $24.00 price objective on shares of MRC Global and gave the stock a buy rating in a research report on Friday, October 6th. Stifel Nicolaus restated a buy rating and issued a $18.00 price objective on shares of MRC Global in a research report on Thursday, December 14th. Robert W. Baird reiterated a hold rating and set a $21.00 price target on shares of MRC Global in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of MRC Global from a sell rating to a hold rating in a research report on Thursday, October 26th. Finally, ValuEngine cut shares of MRC Global from a hold rating to a sell rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $20.67.
MRC Global (NYSE:MRC) traded up $0.71 during mid-day trading on Friday, hitting $18.98. 839,200 shares of the company traded hands, compared to its average volume of 547,722. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 2.31. The company has a market capitalization of $1,794.25, a PE ratio of -67.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.60. MRC Global has a one year low of $14.01 and a one year high of $22.26.
MRC Global declared that its Board of Directors has approved a share repurchase plan on Thursday, November 2nd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of MRC. Citadel Advisors LLC grew its position in MRC Global by 334.1% during the second quarter. Citadel Advisors LLC now owns 1,913,550 shares of the oil and gas company’s stock valued at $31,612,000 after acquiring an additional 1,472,693 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of MRC Global in the second quarter worth approximately $17,961,000. BlackRock Inc. grew its holdings in shares of MRC Global by 8.9% in the second quarter. BlackRock Inc. now owns 7,758,258 shares of the oil and gas company’s stock worth $128,164,000 after purchasing an additional 632,231 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of MRC Global by 38.6% in the second quarter. Thrivent Financial For Lutherans now owns 1,369,000 shares of the oil and gas company’s stock worth $22,615,000 after purchasing an additional 381,510 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in shares of MRC Global in the second quarter worth approximately $238,000. Institutional investors and hedge funds own 94.65% of the company’s stock.
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MRC Global Company Profile
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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