California Public Employees Retirement System cut its stake in shares of McDermott International Inc (NYSE:MDR) by 1.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,005,917 shares of the oil and gas company’s stock after selling 16,083 shares during the quarter. California Public Employees Retirement System owned approximately 0.35% of McDermott International worth $7,313,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of MDR. Private Advisor Group LLC bought a new position in shares of McDermott International in the second quarter valued at about $106,000. Cubist Systematic Strategies LLC bought a new position in shares of McDermott International in the third quarter valued at about $112,000. Meeder Asset Management Inc. raised its holdings in shares of McDermott International by 234.0% in 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 buying an additional 11,310 shares during the last quarter. Koch Industries Inc. raised its holdings in shares of McDermott International by 711.3% in the second quarter. Koch Industries Inc. now owns 164,323 shares of the oil and gas company’s stock valued at $144,000 after buying an additional 144,069 shares during the last quarter. Finally, BB&T Securities LLC raised its holdings in shares of McDermott International by 85.0% in the second quarter. BB&T Securities LLC now owns 20,548 shares of the oil and gas company’s stock valued at $147,000 after buying an additional 9,443 shares during the last quarter. 86.00% of the stock is owned by institutional investors.

Shares of McDermott International Inc (MDR) opened at $6.94 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1,970.00, a PE ratio of 13.09 and a beta of 1.35. McDermott International Inc has a 12-month low of $5.56 and a 12-month high of $8.33.

McDermott International (NYSE:MDR) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.14. The firm had revenue of $958.50 million during the quarter, compared to analyst estimates of $977.28 million. McDermott International had a return on equity of 9.56% and a net margin of 5.25%. The company’s revenue was up 71.6% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. analysts anticipate that McDermott International Inc will post 0.53 EPS for the current year.

MDR has been the subject of a number of research analyst reports. Zacks Investment Research cut McDermott International from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 25th. UBS Group lifted their price target on McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Friday, November 3rd. ValuEngine cut McDermott International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. KeyCorp reaffirmed a “hold” rating on shares of McDermott International in a report on Friday, October 6th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $9.00 price target on shares of McDermott International in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. McDermott International currently has an average rating of “Hold” and a consensus price target of $7.59.

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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.

Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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