McDermott International Inc (MDR) Shares Bought by Stevens Capital Management LP

Stevens Capital Management LP grew its position in McDermott International Inc (NYSE:MDR) by 268.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,937 shares of the oil and gas company’s stock after acquiring an additional 34,209 shares during the quarter. Stevens Capital Management LP’s holdings in McDermott International were worth $865,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Hanson & Doremus Investment Management boosted its holdings in shares of McDermott International by 60.2% in the second quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 2,566 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of McDermott International by 7.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,580 shares of the oil and gas company’s stock worth $1,043,000 after purchasing an additional 3,918 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of McDermott International by 25.9% during the second quarter. PNC Financial Services Group Inc. now owns 23,140 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 4,760 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of McDermott International by 5.0% during the third quarter. Chartwell Investment Partners LLC now owns 108,820 shares of the oil and gas company’s stock worth $2,006,000 after purchasing an additional 5,174 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of McDermott International by 7.9% during the third quarter. Aperio Group LLC now owns 76,672 shares of the oil and gas company’s stock worth $1,413,000 after purchasing an additional 5,623 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

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

McDermott International stock opened at $7.54 on Friday. McDermott International Inc has a 12 month low of $6.97 and a 12 month high of $27.21. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market cap of $1.37 billion, a PE ratio of 3.93 and a beta of 2.56.

McDermott International (NYSE:MDR) last released 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 company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.50 billion. McDermott International had a return on equity of 8.40% and a net margin of 2.05%. McDermott International’s revenue for the quarter was up 138.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. As a group, sell-side analysts anticipate that McDermott International Inc will post 1.03 EPS for the current fiscal year.

In other McDermott International news, SVP Ian Prescott acquired 12,000 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was purchased at an average price of $8.68 per share, for a total transaction of $104,160.00. Following the completion of the transaction, the senior vice president now owns 12,000 shares of the company’s stock, valued at approximately $104,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott Munro sold 2,250 shares of the stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $15.90, for a total value of $35,775.00. Following the completion of the transaction, the senior vice president now owns 33,020 shares of the company’s stock, valued at approximately $525,018. The disclosure for this sale can be found here. Insiders acquired 173,300 shares of company stock valued at $1,629,968 in the last quarter. 1.30% of the stock is currently owned by company insiders.

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About McDermott International

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.

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

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