Bank of New York Mellon Corp lowered its holdings in McDermott International Inc (NYSE:MDR) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,154,172 shares of the oil and gas company’s stock after selling 85,035 shares during the quarter. Bank of New York Mellon Corp owned 1.19% of McDermott International worth $14,088,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of MDR. AQR Capital Management LLC grew its stake in shares of McDermott International by 892.0% in the third quarter. AQR Capital Management LLC now owns 3,250,422 shares of the oil and gas company’s stock valued at $59,905,000 after buying an additional 2,922,760 shares in the last quarter. Luminus Management LLC grew its stake in shares of McDermott International by 51.8% in the third quarter. Luminus Management LLC now owns 3,537,659 shares of the oil and gas company’s stock valued at $65,199,000 after buying an additional 1,207,341 shares in the last quarter. LSV Asset Management grew its stake in shares of McDermott International by 16.4% in the fourth quarter. LSV Asset Management now owns 6,957,866 shares of the oil and gas company’s stock valued at $45,504,000 after buying an additional 980,717 shares in the last quarter. Towle & Co. grew its stake in shares of McDermott International by 56.8% in the fourth quarter. Towle & Co. now owns 2,671,912 shares of the oil and gas company’s stock valued at $17,474,000 after buying an additional 967,700 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of McDermott International by 4.4% in the third quarter. BlackRock Inc. now owns 21,091,651 shares of the oil and gas company’s stock valued at $388,719,000 after buying an additional 896,997 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.
A number of brokerages have recently weighed in on MDR. TheStreet cut McDermott International from a “c-” rating to a “d” rating in a research note on Monday, March 11th. ValuEngine raised McDermott International from a “strong sell” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research raised McDermott International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. McDermott International currently has a consensus rating of “Hold” and a consensus target price of $23.50.
McDermott International (NYSE:MDR) last released its earnings results on Monday, February 25th. The oil and gas company reported ($1.55) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($1.76). McDermott International had a negative return on equity of 3.20% and a negative net margin of 40.07%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 188.7% compared to the same quarter last year. On average, research analysts anticipate that McDermott International Inc will post 1.69 earnings per share for the current year.
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McDermott International Company Profile
McDermott International, Inc provides engineering, procurement, construction and installation, and technology solutions to the energy industry worldwide. It operates through five segments: North, Central and South America; Europe, Africa, Russia and Caspian; the Middle East and North Africa; Asia Pacific; and Technology.
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