Point72 Hong Kong Ltd bought a new stake in shares of MRC Global Inc (NYSE:MRC) in the second quarter, HoldingsChannel reports. The fund bought 9,999 shares of the oil and gas company’s stock, valued at approximately $217,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in MRC Global during the 2nd quarter valued at approximately $22,417,000. Luminus Management LLC increased its position in MRC Global by 22.8% during the 2nd quarter. Luminus Management LLC now owns 3,492,137 shares of the oil and gas company’s stock valued at $75,674,000 after purchasing an additional 647,445 shares during the period. Raymond James & Associates acquired a new stake in MRC Global during the 2nd quarter valued at approximately $552,000. Artisan Partners Limited Partnership increased its position in MRC Global by 0.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,002,522 shares of the oil and gas company’s stock valued at $21,725,000 after purchasing an additional 6,671 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in MRC Global by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,047,060 shares of the oil and gas company’s stock valued at $87,700,000 after purchasing an additional 20,826 shares during the period. 96.79% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MRC opened at $19.44 on Thursday. The company has a current ratio of 2.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.94. MRC Global Inc has a 1-year low of $14.01 and a 1-year high of $22.98. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 648.00, a P/E/G ratio of 1.87 and a beta of 1.59.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). MRC Global had a net margin of 1.97% and a return on equity of 7.00%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $0.02 earnings per share. MRC Global’s revenue was up 17.4% on a year-over-year basis. sell-side analysts forecast that MRC Global Inc will post 0.7 earnings per share for the current year.

Several analysts have recently commented on MRC shares. TheStreet raised shares of MRC Global from a “c+” rating to a “b-” rating in a research report on Thursday, July 26th. Northcoast Research started coverage on shares of MRC Global in a research report on Tuesday, July 31st. They set a “buy” rating and a $26.00 price objective for the company. ValuEngine downgraded shares of MRC Global from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Stifel Nicolaus increased their target price on MRC Global from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research cut MRC Global from a “strong-buy” rating to a “hold” rating in a report on Friday, August 3rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. MRC Global has an average rating of “Buy” and a consensus target price of $22.43.

MRC Global Company Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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Institutional Ownership by Quarter for MRC Global (NYSE:MRC)

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