McDermott International (MDR) Stake Lifted by ClariVest Asset Management LLC

ClariVest Asset Management LLC grew its holdings in McDermott International (NYSE:MDR) by 24.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 951,245 shares of the oil and gas company’s stock after acquiring an additional 189,006 shares during the quarter. ClariVest Asset Management LLC owned about 0.33% of McDermott International worth $5,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDR. Louisiana State Employees Retirement System boosted its position in shares of McDermott International by 6.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 122,200 shares of the oil and gas company’s stock valued at $804,000 after purchasing an additional 7,100 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of McDermott International in the 4th quarter valued at about $962,000. Schwab Charles Investment Management Inc. boosted its position in shares of McDermott International by 0.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,925,543 shares of the oil and gas company’s stock valued at $19,251,000 after purchasing an additional 25,917 shares during the period. Bowling Portfolio Management LLC boosted its position in shares of McDermott International by 50.5% in the 4th quarter. Bowling Portfolio Management LLC now owns 317,552 shares of the oil and gas company’s stock valued at $2,089,000 after purchasing an additional 106,527 shares during the period. Finally, James Investment Research Inc. boosted its position in shares of McDermott International by 29.9% in the 4th quarter. James Investment Research Inc. now owns 1,050,407 shares of the oil and gas company’s stock valued at $6,912,000 after purchasing an additional 241,730 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

McDermott International opened at $22.49 on Friday, Marketbeat.com reports. McDermott International has a twelve month low of $21.39 and a twelve month high of $21.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.22 and a quick ratio of 2.22.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Tuesday, April 24th. The oil and gas company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. McDermott International had a return on equity of 11.91% and a net margin of 6.24%. The company had revenue of $607.82 million during the quarter, compared to analysts’ expectations of $610.00 million. During the same period last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. research analysts forecast that McDermott International will post 1.47 EPS for the current fiscal year.

A number of analysts recently issued reports on MDR shares. KeyCorp raised McDermott International from a “sector weight” rating to an “overweight” rating in a research report on Tuesday, January 23rd. Citigroup upped their target price on McDermott International from $24.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Zacks Investment Research cut McDermott International from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. ValuEngine cut McDermott International from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Finally, Deutsche Bank decreased their target price on McDermott International from $27.90 to $24.90 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. McDermott International currently has a consensus rating of “Hold” and a consensus price target of $25.76.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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