Hillcrest Asset Management LLC Sells 20,950 Shares of McDermott International, Inc. (MDR)
Hillcrest Asset Management LLC lowered its position in shares of McDermott International, Inc. (NYSE:MDR) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 840,732 shares of the oil and gas company’s stock after selling 20,950 shares during the quarter. Hillcrest Asset Management LLC owned about 0.30% of McDermott International worth $6,112,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MDR. Private Advisor Group LLC bought a new position in shares of McDermott International during the second quarter valued at $106,000. Everence Capital Management Inc. bought a new position in shares of McDermott International during the second quarter valued at $116,000. HighTower Advisors LLC increased its holdings in shares of McDermott International by 13.0% during the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 2,000 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of McDermott International by 234.0% during the third quarter. Meeder Asset Management Inc. now owns 16,144 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 11,310 shares in the last quarter. Finally, World Asset Management Inc bought a new position in shares of McDermott International during the second quarter valued at $134,000. 84.35% of the stock is owned by institutional investors and hedge funds.
McDermott International, Inc. (MDR) traded down $0.14 during midday trading on Tuesday, reaching $7.50. The company had a trading volume of 1,757,000 shares, compared to its average volume of 3,196,226. McDermott International, Inc. has a 52 week low of $5.56 and a 52 week high of $8.33. The company has a market cap of $2,169.83, a P/E ratio of 13.64 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.70 and a quick ratio of 1.70.
McDermott International (NYSE:MDR) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.19 by $0.14. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The company had revenue of $958.50 million during the quarter, compared to the consensus estimate of $977.28 million. During the same period last year, the company earned $0.09 EPS. McDermott International’s revenue for the quarter was up 71.6% on a year-over-year basis. equities research analysts anticipate that McDermott International, Inc. will post 0.52 EPS for the current year.
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MDR has been the subject of several analyst reports. Zacks Investment Research downgraded McDermott International from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 25th. KeyCorp restated a “hold” rating on shares of McDermott International in a report on Friday. Credit Suisse Group reduced their price target on McDermott International from $7.60 to $7.30 and set a “neutral” rating for the company in a report on Thursday, November 2nd. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. Finally, Scotiabank restated a “buy” rating and set a $9.00 price target on shares of McDermott International in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.94.
McDermott International Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. 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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