Glacier Peak Capital LLC acquired a new stake in shares of McDermott International Inc (NYSE:MDR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the oil and gas company’s stock, valued at approximately $913,000. Glacier Peak Capital LLC owned approximately 0.05% of McDermott International at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in McDermott International during the fourth quarter valued at approximately $1,481,000. BlackRock Inc. grew its stake in McDermott International by 1.6% during the fourth quarter. BlackRock Inc. now owns 36,742,640 shares of the oil and gas company’s stock valued at $241,767,000 after acquiring an additional 576,284 shares in the last quarter. Jump Trading LLC purchased a new position in McDermott International during the fourth quarter valued at approximately $235,000. Geode Capital Management LLC grew its stake in McDermott International by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,285,638 shares of the oil and gas company’s stock valued at $21,618,000 after acquiring an additional 24,017 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in McDermott International by 93.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,937 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 8,176 shares in the last quarter. 25.43% of the stock is owned by institutional investors.
MDR has been the subject of several recent analyst reports. Zacks Investment Research raised shares of McDermott International from a “hold” rating to a “buy” rating and set a $22.50 price objective for the company in a research note on Tuesday, March 27th. Citigroup dropped their target price on shares of McDermott International from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, April 13th. ValuEngine upgraded shares of McDermott International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 14th. Deutsche Bank dropped their target price on shares of McDermott International from $27.90 to $24.90 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $26.40 target price (up from $21.90) on shares of McDermott International in a research report on Thursday, February 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $25.56.
McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, April 24th. The oil and gas company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.18. The business had revenue of $607.82 million during the quarter, compared to analyst estimates of $610.00 million. McDermott International had a net margin of 6.24% and a return on equity of 11.91%. McDermott International’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. research analysts anticipate that McDermott International Inc will post 1.47 earnings per share for the current year.
McDermott International Company Profile
McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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.