Alps Advisors Inc. reduced its holdings in shares of McDermott International Inc (NYSE:MDR) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,542 shares of the oil and gas company’s stock after selling 1,221 shares during the quarter. Alps Advisors Inc.’s holdings in McDermott International were worth $161,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Stratos Wealth Partners LTD. acquired a new stake in shares of McDermott International in the 3rd quarter valued at $147,000. Jefferies Group LLC purchased a new position in McDermott International during the 3rd quarter worth $185,000. BB&T Securities LLC acquired a new stake in shares of McDermott International in the 4th quarter worth $66,000. Private Advisor Group LLC acquired a new stake in shares of McDermott International in the 3rd quarter worth $190,000. Finally, First Interstate Bank acquired a new stake in shares of McDermott International in the 3rd quarter worth $195,000. Institutional investors and hedge funds own 83.35% of the company’s stock.
Shares of NYSE MDR opened at $7.59 on Friday. 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 52 week low of $6.10 and a 52 week high of $23.58. The stock has a market capitalization of $1.40 billion, a P/E ratio of 3.95 and a beta of 2.73.
Several research firms have recently commented on MDR. 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. Zacks Investment Research restated a “sell” rating on shares of McDermott International in a research note on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. McDermott International presently has an average rating of “Hold” and an average target price of $25.32.
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McDermott International Profile
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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