McDermott International Inc (NYSE:MDR) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 52,334,669 shares, an increase of 16.2% from the January 12th total of 45,057,172 shares. Approximately 18.6% of the company’s shares are short sold. Based on an average daily trading volume, of 10,087,858 shares, the short-interest ratio is currently 5.2 days.

Shares of McDermott International (NYSE:MDR) traded up $0.21 during mid-day trading on Wednesday, hitting $7.78. 3,514,060 shares of the stock traded hands, compared to its average volume of 7,905,430. 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 has a 52-week low of $5.56 and a 52-week high of $9.07. The firm has a market cap of $2,140.00, a price-to-earnings ratio of 14.37 and a beta of 1.58.

Several analysts have recently weighed in on MDR shares. Credit Suisse Group dropped their price target on shares of McDermott International from $7.60 to $7.30 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of McDermott International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. UBS Group increased their price target on shares of McDermott International from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, November 3rd. ValuEngine lowered shares of McDermott International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th. Finally, KeyCorp upgraded shares of McDermott International from a “sector weight” rating to an “overweight” rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. McDermott International currently has an average rating of “Hold” and a consensus price target of $7.93.

Several hedge funds have recently modified their holdings of MDR. ProShare Advisors LLC lifted its holdings in shares of McDermott International by 3.7% in the 2nd quarter. ProShare Advisors LLC now owns 29,734 shares of the oil and gas company’s stock worth $213,000 after acquiring an additional 1,074 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of McDermott International by 23.8% in the 2nd quarter. New York State Common Retirement Fund now owns 438,842 shares of the oil and gas company’s stock worth $3,146,000 after acquiring an additional 84,341 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of McDermott International by 31.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock worth $215,909,000 after acquiring an additional 7,129,111 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of McDermott International by 4.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 897,419 shares of the oil and gas company’s stock worth $6,434,000 after acquiring an additional 36,079 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its holdings in shares of McDermott International by 92.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 25,086 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 12,067 shares during the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.

WARNING: “McDermott International Inc (MDR) Short Interest Update” was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://theolympiareport.com/2018/02/14/mcdermott-international-inc-mdr-short-interest-update-2.html.

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.

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.