Parametric Portfolio Associates LLC grew its holdings in shares of McDermott International, Inc. (NYSE:MDR) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 897,419 shares of the oil and gas company’s stock after purchasing an additional 36,079 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.32% of McDermott International worth $6,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its position in McDermott International by 2.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 19,593 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 457 shares during the period. Federated Investors Inc. PA increased its position in McDermott International by 2.0% during the 2nd quarter. Federated Investors Inc. PA now owns 23,565 shares of the oil and gas company’s stock worth $169,000 after purchasing an additional 468 shares during the period. ProShare Advisors LLC increased its position in McDermott International by 3.7% during the 2nd quarter. ProShare Advisors LLC now owns 29,734 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 1,074 shares during the period. Pitcairn Co. increased its position in McDermott International by 3.1% during the 2nd quarter. Pitcairn Co. now owns 64,663 shares of the oil and gas company’s stock worth $464,000 after purchasing an additional 1,922 shares during the period. Finally, HighTower Advisors LLC increased its position in McDermott International by 13.0% during the 1st quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 86.99% of the company’s stock.

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Several research firms have issued reports on MDR. BidaskClub cut McDermott International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Scotiabank reiterated a “buy” rating and set a $9.00 target price on shares of McDermott International in a research report on Friday, July 28th. TheStreet upgraded McDermott International from a “c” rating to a “b-” rating in a report on Tuesday, July 25th. KeyCorp restated a “hold” rating on shares of McDermott International in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $8.47.

Shares of McDermott International, Inc. (NYSE MDR) opened at 6.41 on Friday. The company has a 50 day moving average price of $6.84 and a 200-day moving average price of $6.64. McDermott International, Inc. has a 12-month low of $4.96 and a 12-month high of $8.33. The firm has a market cap of $1.82 billion, a PE ratio of 24.65 and a beta of 1.41.

McDermott International (NYSE:MDR) last announced its earnings results on Tuesday, July 25th. The oil and gas company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). McDermott International had a return on equity of 5.55% and a net margin of 2.95%. The firm had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. During the same period in the previous year, the firm earned $0.07 EPS. McDermott International’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that McDermott International, Inc. will post $0.42 EPS for the current year.

McDermott International Company Profile

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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