JPMorgan Chase & Co. Has $3,756,000 Position in McDermott International Inc. (MDR)
JPMorgan Chase & Co. lowered its stake in shares of McDermott International Inc. (NYSE:MDR) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 760,438 shares of the company’s stock after selling 39,700 shares during the period. JPMorgan Chase & Co. owned about 0.32% of McDermott International worth $3,756,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MDR. Mariner Wealth Advisors LLC acquired a new position in shares of McDermott International during the first quarter valued at approximately $137,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of McDermott International during the second quarter valued at approximately $135,000. Chartwell Investment Partners LLC acquired a new position in shares of McDermott International during the second quarter valued at approximately $1,751,000. UBS Asset Management Americas Inc. increased its position in shares of McDermott International by 15.3% in the first quarter. UBS Asset Management Americas Inc. now owns 6,616,809 shares of the company’s stock valued at $27,063,000 after buying an additional 877,527 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of McDermott International by 6.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,467,528 shares of the company’s stock valued at $6,002,000 after buying an additional 89,818 shares during the last quarter. Institutional investors own 78.97% of the company’s stock.
Shares of McDermott International Inc. (NYSE:MDR) remained flat at $5.21 on Monday. 134,257 shares of the company traded hands. McDermott International Inc. has a 12-month low of $2.20 and a 12-month high of $6.00. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 434.17 and a beta of 1.21. The firm has a 50 day moving average of $5.03 and a 200-day moving average of $4.76.
McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.06. The firm had revenue of $706.60 million for the quarter, compared to analyst estimates of $753.43 million. McDermott International had a net margin of 0.12% and a return on equity of 6.51%. McDermott International’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. Analysts expect that McDermott International Inc. will post $0.13 EPS for the current fiscal year.
Several equities analysts have recently commented on MDR shares. Imperial Capital restated an “outperform” rating and issued a $7.00 price objective on shares of McDermott International in a research report on Thursday, September 22nd. Zacks Investment Research cut McDermott International from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Finally, Citigroup Inc. lifted their target price on McDermott International from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. McDermott International currently has an average rating of “Hold” and an average target price of $5.04.
McDermott International Company Profile
McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects.
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