Texas Permanent School Fund cut its stake in shares of McDermott International Inc (NYSE:MDR) by 7.4% in the 4th quarter, Holdings Channel reports. The firm owned 191,980 shares of the oil and gas company’s stock after selling 15,334 shares during the quarter. Texas Permanent School Fund’s holdings in McDermott International were worth $1,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinebridge Investments L.P. acquired a new position in McDermott International during the third quarter valued at approximately $1,379,000. Boston Advisors LLC lifted its position in shares of McDermott International by 14.2% in the third quarter. Boston Advisors LLC now owns 750,595 shares of the oil and gas company’s stock valued at $5,457,000 after buying an additional 93,300 shares during the last quarter. KBC Group NV acquired a new stake in shares of McDermott International in the third quarter valued at approximately $2,597,000. Neuberger Berman Group LLC lifted its position in shares of McDermott International by 21.7% in the third quarter. Neuberger Berman Group LLC now owns 1,951,233 shares of the oil and gas company’s stock valued at $14,185,000 after buying an additional 347,995 shares during the last quarter. Finally, 361 Capital LLC lifted its position in shares of McDermott International by 445.3% in the third quarter. 361 Capital LLC now owns 287,968 shares of the oil and gas company’s stock valued at $2,094,000 after buying an additional 235,156 shares during the last quarter. 85.68% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on MDR shares. Deutsche Bank cut their price objective on McDermott International from $6.50 to $5.25 and set a “hold” rating for the company in a research report on Tuesday, October 24th. Zacks Investment Research cut McDermott International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 25th. Scotiabank reaffirmed a “buy” rating and issued a $9.00 price objective on shares of McDermott International in a research report on Wednesday, November 1st. Credit Suisse Group cut their price objective on McDermott International from $7.60 to $7.30 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Finally, UBS Group raised their price objective on McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.93.

McDermott International Inc (NYSE MDR) opened at $7.42 on Monday. The firm has a market capitalization of $2,107.48, a P/E ratio of 13.25 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70. McDermott International Inc has a 52 week low of $5.56 and a 52 week high of $9.07.

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

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