MRC Global (NYSE:MRC) Price Target Raised to $16.00

MRC Global (NYSE:MRC) had its target price increased by equities researchers at Susquehanna from $15.00 to $16.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would indicate a potential upside of 25.49% from the company’s previous close.

Separately, Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of MRC Global in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.67.

MRC Global Stock Up 8.8 %

Shares of NYSE MRC opened at $12.75 on Friday. The company has a market capitalization of $1.08 billion, a P/E ratio of 12.26 and a beta of 2.01. MRC Global has a 1 year low of $8.15 and a 1 year high of $13.00. The company has a 50 day simple moving average of $12.13 and a 200-day simple moving average of $11.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.48 and a quick ratio of 0.76.

MRC Global (NYSE:MRC) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The company had revenue of $806.00 million during the quarter, compared to analyst estimates of $760.76 million. During the same quarter last year, the firm posted $0.32 earnings per share. MRC Global’s revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts predict that MRC Global will post 0.99 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its holdings in MRC Global by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 70,162 shares of the oil and gas company’s stock valued at $772,000 after buying an additional 1,025 shares during the period. ProShare Advisors LLC boosted its holdings in MRC Global by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after acquiring an additional 1,186 shares during the last quarter. Swiss National Bank grew its position in MRC Global by 0.9% during the third quarter. Swiss National Bank now owns 185,149 shares of the oil and gas company’s stock valued at $1,898,000 after acquiring an additional 1,700 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of MRC Global by 4.0% in the 1st quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock worth $986,000 after purchasing an additional 2,994 shares during the period. Finally, Gladius Capital Management LP acquired a new position in shares of MRC Global in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 94.97% of the company’s stock.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.