Stifel Nicolaus Lowers MRC Global (NYSE:MRC) Price Target to $16.00

MRC Global (NYSE:MRC) had its target price decreased by research analysts at Stifel Nicolaus from $17.00 to $16.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price points to a potential upside of 39.69% from the company’s previous close.

MRC Global Trading Up 3.1 %

NYSE:MRC opened at $11.45 on Monday. MRC Global has a 12 month low of $9.42 and a 12 month high of $15.41. The company has a 50 day simple moving average of $13.16 and a two-hundred day simple moving average of $13.01. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The company has a market cap of $976.37 million, a PE ratio of 13.17 and a beta of 1.96.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $736.80 million during the quarter, compared to analyst estimates of $726.90 million. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. MRC Global’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. Research analysts forecast that MRC Global will post 0.86 earnings per share for the current year.

MRC Global announced that its board has approved a stock repurchase program on Friday, January 3rd that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On MRC Global

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in MRC Global by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock worth $120,004,000 after buying an additional 42,331 shares in the last quarter. Pzena Investment Management LLC increased its stake in MRC Global by 1.0% in the 4th quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock worth $74,452,000 after buying an additional 54,859 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MRC Global by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company’s stock worth $48,914,000 after buying an additional 164,973 shares in the last quarter. Wellington Management Group LLP increased its stake in MRC Global by 1.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock worth $40,886,000 after buying an additional 55,553 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in MRC Global by 18.5% in the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock worth $29,159,000 after buying an additional 356,372 shares in the last quarter. 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.