MRC Global Inc. (NYSE:MRC) has been given a $24.00 price objective by research analysts at Cowen and Company in a research note issued on Friday, October 6th. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Cowen and Company’s price objective would suggest a potential upside of 34.83% from the company’s current price.
A number of other research analysts have also recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $19.00 price target on shares of MRC Global in a research report on Sunday, September 3rd. BidaskClub raised MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Robert W. Baird reissued a “hold” rating and set a $21.00 price objective on shares of MRC Global in a report on Sunday, September 10th. Wells Fargo & Company reissued a “market perform” rating and set a $17.00 price objective (down previously from $20.00) on shares of MRC Global in a report on Wednesday, July 12th. Finally, Seaport Global Securities cut MRC Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $17.00 in a report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $21.22.
MRC Global (NYSE:MRC) opened at 17.80 on Friday. MRC Global has a 1-year low of $13.68 and a 1-year high of $22.52. The firm has a 50 day moving average of $17.30 and a 200 day moving average of $17.42. The firm’s market cap is $1.68 billion.
MRC Global (NYSE:MRC) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $922.00 million for the quarter, compared to the consensus estimate of $916.82 million. MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, equities research analysts expect that MRC Global will post $0.12 EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC lifted its stake in shares of MRC Global by 3.0% in the 2nd quarter. Aperio Group LLC now owns 24,078 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 698 shares during the period. Prudential Financial Inc. lifted its stake in shares of MRC Global by 7.4% in the 2nd quarter. Prudential Financial Inc. now owns 371,420 shares of the oil and gas company’s stock valued at $6,135,000 after purchasing an additional 25,720 shares during the period. Bank of America Corp DE lifted its stake in shares of MRC Global by 36.3% in the 1st quarter. Bank of America Corp DE now owns 627,269 shares of the oil and gas company’s stock valued at $11,499,000 after purchasing an additional 167,116 shares during the period. Clearbridge Investments LLC purchased a new position in MRC Global during the first quarter valued at $28,656,000. Finally, Artisan Partners Limited Partnership purchased a new position in MRC Global during the second quarter valued at $17,961,000. Institutional investors own 96.75% of the company’s stock.
About MRC Global
MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.
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