McDermott International Inc (NYSE:MDR) Short Interest Down 9.0% in July

McDermott International Inc (NYSE:MDR) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 43,737,900 shares, a decline of 9.0% from the June 15th total of 48,082,800 shares. Currently, 24.5% of the shares of the company are short sold. Based on an average trading volume of 4,480,000 shares, the days-to-cover ratio is currently 9.8 days.

Several hedge funds and other institutional investors have recently bought and sold shares of MDR. Dimensional Fund Advisors LP boosted its position in shares of McDermott International by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,234,912 shares of the oil and gas company’s stock worth $60,399,000 after buying an additional 269,091 shares during the period. Two Sigma Investments LP boosted its position in shares of McDermott International by 3,125.5% in the fourth quarter. Two Sigma Investments LP now owns 133,121 shares of the oil and gas company’s stock worth $871,000 after buying an additional 137,521 shares during the period. Squarepoint Ops LLC boosted its position in shares of McDermott International by 174.2% in the fourth quarter. Squarepoint Ops LLC now owns 217,562 shares of the oil and gas company’s stock worth $1,423,000 after buying an additional 138,211 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of McDermott International in the fourth quarter worth $425,000. Finally, Jane Street Group LLC boosted its position in shares of McDermott International by 37.0% in the fourth quarter. Jane Street Group LLC now owns 46,159 shares of the oil and gas company’s stock worth $302,000 after buying an additional 12,455 shares during the period. 86.63% of the stock is currently owned by institutional investors.

MDR traded down $3.56 during midday trading on Tuesday, reaching $6.52. The company had a trading volume of 35,885,800 shares, compared to its average volume of 4,903,088. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.61. The company has a market capitalization of $1.86 billion, a PE ratio of -6.59 and a beta of 3.15. McDermott International has a 12-month low of $5.80 and a 12-month high of $20.63. The business’s 50-day moving average price is $9.27.

McDermott International (NYSE:MDR) last released its earnings results on Monday, July 29th. The oil and gas company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.15). The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.25 billion. McDermott International had a negative net margin of 33.44% and a negative return on equity of 5.13%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Analysts anticipate that McDermott International will post 1.65 EPS for the current year.

MDR has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Citigroup boosted their target price on shares of Visteon from $58.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, McDermott International presently has a consensus rating of “Hold” and a consensus target price of $17.00.

About McDermott International

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.

Featured Article: Calculate Your Return on Investment (ROI)

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.