McDermott International (NYSE:MDR) Shares Gap Up to $0.84

McDermott International Inc (NYSE:MDR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $0.84, but opened at $0.84. McDermott International shares last traded at $0.81, with a volume of 61,304 shares traded.

Separately, Citigroup cut their target price on shares of McDermott International from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th.

The company has a market capitalization of $152.28 million, a price-to-earnings ratio of -0.82 and a beta of 2.97. The company has a debt-to-equity ratio of 7.01, a current ratio of 0.40 and a quick ratio of 0.39. The stock has a 50 day simple moving average of $1.29 and a two-hundred day simple moving average of $4.90.

McDermott International (NYSE:MDR) last issued its earnings results on Monday, November 4th. The oil and gas company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.73) by ($1.07). McDermott International had a negative net margin of 56.57% and a negative return on equity of 349.92%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the company posted $0.20 EPS. The company’s quarterly revenue was down 7.3% on a year-over-year basis.

In other McDermott International news, insider Hook Sandra 714,285 shares of the company’s stock in a transaction that occurred on Monday, November 25th. Insiders own 0.97% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. purchased a new stake in McDermott International in the 3rd quarter valued at approximately $34,000. SG Americas Securities LLC grew its stake in shares of McDermott International by 383.7% during the 3rd quarter. SG Americas Securities LLC now owns 96,504 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 76,551 shares during the period. First Trust Advisors LP lifted its stake in shares of McDermott International by 119.1% in the third quarter. First Trust Advisors LP now owns 414,436 shares of the oil and gas company’s stock valued at $837,000 after purchasing an additional 225,310 shares during the period. Creative Planning boosted its holdings in McDermott International by 178.9% during the third quarter. Creative Planning now owns 91,328 shares of the oil and gas company’s stock worth $184,000 after buying an additional 58,584 shares in the last quarter. Finally, Sigma Planning Corp boosted its holdings in McDermott International by 86.1% during the third quarter. Sigma Planning Corp now owns 76,548 shares of the oil and gas company’s stock worth $155,000 after buying an additional 35,425 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

McDermott International Company Profile (NYSE:MDR)

McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.

Read More: Using other technical indicators with support levels

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.