Shares of MRC Global Inc. (NYSE:MRC) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $16.89, but opened at $16.48. MRC Global shares last traded at $16.10, with a volume of 2,939,317 shares.

The oil and gas company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. MRC Global had a negative net margin of 1.40% and a positive return on equity of 0.39%. The business had revenue of $922 million during the quarter, compared to analyst estimates of $916.82 million. During the same period last year, the company earned ($0.15) EPS. The business’s revenue for the quarter was up 23.6% on a year-over-year basis.

Several equities analysts have recently commented on the company. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $17.00 price target (down previously from $20.00) on shares of MRC Global in a research note on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating on shares of MRC Global in a research note on Friday, July 7th. ValuEngine downgraded MRC Global from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Seaport Global Securities downgraded MRC Global from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $17.00 in a report on Wednesday, June 21st. Finally, BidaskClub upgraded MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $20.75.

Large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in MRC Global during the fourth quarter valued at about $408,000. Teachers Advisors LLC increased its stake in MRC Global by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 1,187,168 shares of the oil and gas company’s stock valued at $24,052,000 after buying an additional 105,801 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in MRC Global during the first quarter valued at about $2,906,000. Dudley & Shanley LLC increased its stake in MRC Global by 34.2% in the first quarter. Dudley & Shanley LLC now owns 102,000 shares of the oil and gas company’s stock valued at $1,870,000 after buying an additional 26,000 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management purchased a new stake in MRC Global during the first quarter valued at about $14,983,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

The stock’s market cap is $1.52 billion. The stock’s 50 day moving average is $16.50 and its 200-day moving average is $18.58.

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MRC Global Company Profile

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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