McDermott International Inc (MDR) SVP Ian Prescott Purchases 12,000 Shares of Stock

McDermott International Inc (NYSE:MDR) SVP Ian Prescott purchased 12,000 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was acquired at an average price of $8.68 per share, for a total transaction of $104,160.00. Following the acquisition, the senior vice president now directly owns 12,000 shares of the company’s stock, valued at approximately $104,160. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

NYSE MDR opened at $9.95 on Wednesday. McDermott International Inc has a one year low of $6.97 and a one year high of $27.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 0.78. The company has a market capitalization of $1.58 billion, a P/E ratio of 5.18 and a beta of 2.58.

McDermott International (NYSE:MDR) last posted its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.09). The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.50 billion. McDermott International had a net margin of 2.05% and a return on equity of 8.40%. The company’s quarterly revenue was up 138.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. Equities research analysts predict that McDermott International Inc will post 1.03 EPS for the current year.

Several research analysts recently commented on the stock. Citigroup cut their price target on shares of McDermott International from $21.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, November 1st. TheStreet lowered shares of McDermott International from a “b-” rating to a “c+” rating in a report on Wednesday, October 24th. Zacks Investment Research lowered shares of McDermott International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. ValuEngine lowered shares of McDermott International from a “sell” rating to a “strong sell” rating in a report on Thursday, September 6th. Finally, Credit Suisse Group cut their price target on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.32.

Institutional investors and hedge funds have recently bought and sold shares of the company. Fairfax Financial Holdings Ltd Can purchased a new stake in shares of McDermott International during the second quarter valued at approximately $12,879,000. Fox Run Management L.L.C. purchased a new stake in shares of McDermott International during the third quarter valued at approximately $728,000. Manning & Napier Group LLC purchased a new stake in shares of McDermott International during the third quarter valued at approximately $243,000. Renaissance Technologies LLC purchased a new stake in shares of McDermott International during the second quarter valued at approximately $37,690,000. Finally, Luminus Management LLC purchased a new stake in shares of McDermott International during the second quarter valued at approximately $45,791,000. Institutional investors own 87.85% of the company’s stock.

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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.

Further Reading: Bear Market

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