Systematic Financial Management LP cut its holdings in shares of McDermott International Inc (NYSE:MDR) by 7.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 649,704 shares of the oil and gas company’s stock after selling 51,111 shares during the period. Systematic Financial Management LP’s holdings in McDermott International were worth $11,974,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of McDermott International by 146.6% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 107,712 shares of the oil and gas company’s stock valued at $1,985,000 after buying an additional 64,030 shares during the last quarter. Barnett & Company Inc. grew its position in McDermott International by 7.0% during the 3rd quarter. Barnett & Company Inc. now owns 194,673 shares of the oil and gas company’s stock worth $3,588,000 after purchasing an additional 12,758 shares during the last quarter. Teton Advisors Inc. purchased a new position in McDermott International during the 3rd quarter worth $660,000. Advisory Services Network LLC grew its position in McDermott International by 204.3% during the 3rd quarter. Advisory Services Network LLC now owns 22,155 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 14,875 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in McDermott International by 37.1% during the 3rd quarter. Wells Fargo & Company MN now owns 883,329 shares of the oil and gas company’s stock worth $16,279,000 after purchasing an additional 238,844 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.

In other news, SVP Scott Munro sold 2,250 shares of the firm’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $15.90, for a total value of $35,775.00. Following the completion of the sale, the senior vice president now owns 33,020 shares in the company, valued at approximately $525,018. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Linh Austin bought 10,000 shares of McDermott International stock in a transaction dated Friday, November 9th. The stock was purchased at an average price of $8.92 per share, with a total value of $89,200.00. The disclosure for this purchase can be found here. Insiders bought a total of 137,300 shares of company stock valued at $1,344,268 in the last 90 days. Company insiders own 0.80% of the company’s stock.

Several brokerages have issued reports on MDR. ValuEngine raised shares of McDermott International from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Zacks Investment Research reissued a “sell” rating on shares of McDermott International in a research report on Tuesday. Citigroup lowered their price objective on shares of McDermott International from $21.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, November 1st. KeyCorp lowered their price objective on shares of McDermott International from $42.00 to $38.00 and set a “$17.66” rating on the stock in a research report on Monday, July 23rd. Finally, Credit Suisse Group lowered their price objective on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, August 13th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.32.

Shares of McDermott International stock opened at $7.61 on Wednesday. McDermott International Inc has a 1 year low of $6.97 and a 1 year high of $27.21. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 3.96 and a beta of 2.58.

McDermott International (NYSE:MDR) last released its earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.09). McDermott International had a return on equity of 8.40% and a net margin of 2.05%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue was up 138.7% on a year-over-year basis. On average, research analysts forecast that McDermott International Inc will post 1.03 EPS for the current year.

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About McDermott International

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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.

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Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

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