Oregon Public Employees Retirement Fund Boosts Holdings in McDermott International Inc (NYSE:MDR)

Oregon Public Employees Retirement Fund raised its stake in McDermott International Inc (NYSE:MDR) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,903 shares of the oil and gas company’s stock after buying an additional 1,034 shares during the period. Oregon Public Employees Retirement Fund’s holdings in McDermott International were worth $695,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quantamental Technologies LLC bought a new position in shares of McDermott International in the 1st quarter worth $39,000. Icon Wealth Partners LLC bought a new position in shares of McDermott International in the 1st quarter worth $46,000. Investors Research Corp bought a new position in shares of McDermott International in the 1st quarter worth $63,000. Piedmont Investment Advisors Inc. bought a new position in shares of McDermott International in the 1st quarter worth $77,000. Finally, Callahan Advisors LLC bought a new position in shares of McDermott International in the 1st quarter worth $96,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MDR stock traded down $0.27 on Friday, hitting $4.34. 69,007 shares of the company’s stock traded hands, compared to its average volume of 7,171,010. The company has a quick ratio of 0.68, a current ratio of 0.69 and a debt-to-equity ratio of 7.01. McDermott International Inc has a one year low of $4.21 and a one year high of $20.63. The firm’s fifty day moving average is $8.85. The stock has a market cap of $857.43 million, a PE ratio of -4.37 and a beta of 3.12.

McDermott International (NYSE:MDR) last released its earnings results on Monday, July 29th. The oil and gas company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.15). McDermott International had a negative net margin of 33.95% and a negative return on equity of 12.08%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business posted $0.29 EPS. McDermott International’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that McDermott International Inc will post -0.33 EPS for the current year.

MDR has been the topic of several recent research reports. Citigroup reduced their target price on shares of McDermott International from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. ValuEngine lowered shares of McDermott International from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research lowered shares of McDermott International from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. McDermott International currently 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: What is a good dividend yield?

Want to see what other hedge funds are holding MDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDermott International Inc (NYSE:MDR).

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

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.