Shares of McDermott International Inc (NYSE:MDR) gapped down prior to trading on Friday . The stock had previously closed at $8.33, but opened at $8.14. McDermott International shares last traded at $7.89, with a volume of 4657065 shares trading hands.
A number of brokerages have commented on MDR. ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research restated a “sell” rating on shares of McDermott International in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.50.
The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 0.78. The company has a market capitalization of $1.47 billion, a PE ratio of -7.97 and a beta of 2.73.
Several hedge funds and other institutional investors have recently bought and sold shares of MDR. Bank of New York Mellon Corp acquired a new stake in shares of McDermott International during the 2nd quarter worth about $43,106,000. Aperio Group LLC increased its position in McDermott International by 7.9% during the third quarter. Aperio Group LLC now owns 76,672 shares of the oil and gas company’s stock worth $1,413,000 after acquiring an additional 5,623 shares during the period. Alps Advisors Inc. bought a new position in McDermott International during the third quarter worth about $475,000. Russell Investments Group Ltd. increased its position in McDermott International by 16.1% during the third quarter. Russell Investments Group Ltd. now owns 976,315 shares of the oil and gas company’s stock worth $17,993,000 after acquiring an additional 135,711 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in McDermott International during the third quarter worth about $537,000. Institutional investors own 83.35% of the company’s stock.
McDermott International Company Profile (NYSE:MDR)
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.
See Also: Percentage Decliners
Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.