Sippican Capital Advisors held its stake in McDermott International, Inc. (NYSE:MDR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,218 shares of the oil and gas company’s stock at the end of the second quarter. McDermott International accounts for 2.3% of Sippican Capital Advisors’ holdings, making the stock its 8th largest position. Sippican Capital Advisors owned approximately 0.10% of McDermott International worth $2,102,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. CIBC World Markets Inc. purchased a new stake in McDermott International during the first quarter worth $101,000. HighTower Advisors LLC increased its stake in McDermott International by 13.0% in the first quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock worth $117,000 after buying an additional 2,000 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in McDermott International during the first quarter worth $128,000. Teacher Retirement System of Texas increased its stake in McDermott International by 4.6% in the first quarter. Teacher Retirement System of Texas now owns 19,136 shares of the oil and gas company’s stock worth $129,000 after buying an additional 849 shares in the last quarter. Finally, Koch Industries Inc. increased its stake in McDermott International by 97.0% in the first quarter. Koch Industries Inc. now owns 20,254 shares of the oil and gas company’s stock worth $137,000 after buying an additional 9,974 shares in the last quarter. 73.82% of the stock is owned by institutional investors and hedge funds.
Shares of McDermott International, Inc. (MDR) traded down 0.32% during trading on Friday, hitting $6.19. The company had a trading volume of 2,974,499 shares. The firm has a market capitalization of $1.76 billion, a P/E ratio of 23.81 and a beta of 1.37. The company’s 50 day moving average is $7.03 and its 200 day moving average is $6.90. McDermott International, Inc. has a 1-year low of $4.41 and a 1-year high of $8.33.
McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. McDermott International had a net margin of 2.95% and a return on equity of 5.55%. McDermott International’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 EPS. Analysts anticipate that McDermott International, Inc. will post $0.42 earnings per share for the current fiscal year.
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A number of research firms have weighed in on MDR. BidaskClub downgraded shares of McDermott International from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Scotiabank reissued a “buy” rating and set a $9.00 target price on shares of McDermott International in a research report on Friday, July 28th. TheStreet raised shares of McDermott International from a “c” rating to a “b-” rating in a research report on Tuesday, July 25th. ValuEngine downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.29.
About McDermott International
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. 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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