Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of McDermott International Inc (NYSE:MDR) by 146.6% during the third quarter, HoldingsChannel reports. The firm owned 107,712 shares of the oil and gas company’s stock after acquiring an additional 64,030 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in McDermott International were worth $1,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MDR. Hanson & Doremus Investment Management lifted its stake in McDermott International by 60.2% in the second quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 2,566 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in McDermott International by 7.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,580 shares of the oil and gas company’s stock valued at $1,043,000 after acquiring an additional 3,918 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in McDermott International by 25.9% in the second quarter. PNC Financial Services Group Inc. now owns 23,140 shares of the oil and gas company’s stock valued at $455,000 after acquiring an additional 4,760 shares during the last quarter. Aperio Group LLC lifted its stake in McDermott International by 7.9% in the third quarter. Aperio Group LLC now owns 76,672 shares of the oil and gas company’s stock valued at $1,413,000 after acquiring an additional 5,623 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in McDermott International in the second quarter valued at approximately $117,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of McDermott International stock opened at $8.53 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.96. McDermott International Inc has a 1-year low of $6.97 and a 1-year high of $27.21. The firm has a market capitalization of $1.55 billion, a PE ratio of 4.44 and a beta of 2.58.

McDermott International (NYSE:MDR) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported $0.20 earnings per share for the quarter, missing the Zacks’ 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 in the previous year, the firm posted $0.33 earnings per share. McDermott International’s quarterly revenue was up 138.7% compared to the same quarter last year. As a group, analysts anticipate that McDermott International Inc will post 1.03 EPS for the current year.

In other news, SVP Scott Munro sold 2,250 shares of the business’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 directly owns 33,020 shares in the company, valued at $525,018. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Luquette acquired 50,500 shares of McDermott International stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $10.00 per share, with a total value of $505,000.00. Following the completion of the purchase, the director now directly owns 90,250 shares of the company’s stock, valued at approximately $902,500. The disclosure for this purchase can be found here. Insiders bought 147,300 shares of company stock valued at $1,424,568 over the last 90 days. 0.80% of the stock is owned by corporate insiders.

A number of analysts have issued reports on MDR shares. Citigroup reduced their target price on shares of McDermott International from $21.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, November 1st. TheStreet cut shares of McDermott International from a “b-” rating to a “c+” rating in a research note on Wednesday, October 24th. KeyCorp reduced their target price on shares of McDermott International from $42.00 to $38.00 and set a “$17.66” rating for the company in a research note on Monday, July 23rd. Zacks Investment Research cut shares of McDermott International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, ValuEngine cut shares of McDermott International from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 6th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $25.32.

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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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