Shares of McDermott International Inc (NYSE:MDR) shot up 12.6% on Tuesday . The company traded as high as $10.37 and last traded at $10.29. 10,165,616 shares changed hands during trading, an increase of 105% from the average session volume of 4,952,540 shares. The stock had previously closed at $9.14.
A number of brokerages recently weighed in on MDR. TheStreet cut shares of McDermott International from a “c-” rating to a “d” rating in a report on Monday, March 11th. Zacks Investment Research upgraded shares of McDermott International from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, ValuEngine upgraded shares of McDermott International from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $23.50.
The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 4.20. The company has a market capitalization of $1.65 billion, a P/E ratio of -10.39 and a beta of 2.73.
Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its stake in McDermott International by 174.2% in the 4th quarter. Squarepoint Ops LLC now owns 217,562 shares of the oil and gas company’s stock worth $1,423,000 after purchasing an additional 138,211 shares during the period. Bank of New York Mellon Corp boosted its stake in McDermott International by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,239,207 shares of the oil and gas company’s stock worth $41,269,000 after purchasing an additional 45,519 shares during the period. Thornburg Investment Management Inc. boosted its stake in McDermott International by 8.6% in the 4th quarter. Thornburg Investment Management Inc. now owns 1,185,217 shares of the oil and gas company’s stock worth $7,751,000 after purchasing an additional 93,426 shares during the period. Rhumbline Advisers boosted its stake in McDermott International by 65.1% in the 4th quarter. Rhumbline Advisers now owns 542,398 shares of the oil and gas company’s stock worth $3,547,000 after purchasing an additional 213,863 shares during the period. Finally, First Trust Advisors LP boosted its stake in McDermott International by 91.6% in the 4th quarter. First Trust Advisors LP now owns 245,657 shares of the oil and gas company’s stock worth $1,607,000 after purchasing an additional 117,412 shares during the period. 88.60% of the stock is owned by hedge funds and other institutional investors.
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McDermott International Company Profile (NYSE:MDR)
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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