Geode Capital Management LLC Has $21.78 Million Stake in McDermott International, Inc. (MDR)

Geode Capital Management LLC boosted its position in McDermott International, Inc. (NYSE:MDR) by 19.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,226,768 shares of the oil and gas company’s stock after buying an additional 514,872 shares during the period. Geode Capital Management LLC owned about 1.14% of McDermott International worth $21,779,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position 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. Virginia Retirement Systems ET AL increased its position in shares of McDermott International by 2.1% in the first quarter. Virginia Retirement Systems ET AL now owns 268,183 shares of the oil and gas company’s stock worth $1,810,000 after buying an additional 5,483 shares during the period. Clinton Group Inc. increased its position in shares of McDermott International by 6.2% in the first quarter. Clinton Group Inc. now owns 108,901 shares of the oil and gas company’s stock worth $735,000 after buying an additional 6,362 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of McDermott International by 44.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,177 shares of the oil and gas company’s stock worth $216,000 after buying an additional 9,022 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of McDermott International by 4.9% in the first quarter. Ameriprise Financial Inc. now owns 196,454 shares of the oil and gas company’s stock worth $1,326,000 after buying an additional 9,183 shares during the period. 73.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of McDermott International, Inc. (NYSE:MDR) opened at 7.39 on Wednesday. McDermott International, Inc. has a 52 week low of $4.41 and a 52 week high of $8.33. The company has a market capitalization of $2.10 billion, a PE ratio of 36.95 and a beta of 1.38. The company has a 50-day moving average price of $6.48 and a 200-day moving average price of $7.00.

McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, April 25th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.07. McDermott International had a return on equity of 4.75% and a net margin of 2.40%. The business had revenue of $519.40 million for the quarter, compared to analysts’ expectations of $689.30 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. Analysts predict that McDermott International, Inc. will post $0.42 earnings per share for the current year.

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A number of brokerages recently weighed in on MDR. Scotiabank raised shares of McDermott International from a “sector perform” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Thursday, May 25th. Zacks Investment Research downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine downgraded shares of McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Deutsche Bank AG reissued a “hold” rating and issued a $7.00 price target (down from $8.00) on shares of McDermott International in a report on Saturday, April 22nd. Finally, BidaskClub raised shares of McDermott International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. McDermott International has an average rating of “Buy” and a consensus target price of $8.19.

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.

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

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