Systematic Financial Management LP Sells 16,650 Shares of McDermott International, Inc. (MDR)

Systematic Financial Management LP lowered its position in shares of McDermott International, Inc. (NYSE:MDR) by 6.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,390 shares of the oil and gas company’s stock after selling 16,650 shares during the period. Systematic Financial Management LP’s holdings in McDermott International were worth $1,663,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MDR. Ancora Advisors LLC increased its stake in McDermott International by 7.1% in the fourth quarter. Ancora Advisors LLC now owns 15,000 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,000 shares in the last quarter. STA Wealth Management LLC increased its stake in McDermott International by 13.7% in the fourth quarter. STA Wealth Management LLC now owns 26,657 shares of the oil and gas company’s stock worth $197,000 after buying an additional 3,221 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in McDermott International by 2.1% in the first quarter. Virginia Retirement Systems ET AL now owns 268,183 shares of the oil and gas company’s stock worth $1,810,000 after buying an additional 5,483 shares in the last quarter. Clinton Group Inc. increased its stake in McDermott International by 6.2% in the first quarter. Clinton Group Inc. now owns 108,901 shares of the oil and gas company’s stock worth $735,000 after buying an additional 6,362 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in McDermott International by 44.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,177 shares of the oil and gas company’s stock worth $216,000 after buying an additional 9,022 shares in the last quarter. 73.84% of the stock is owned by institutional investors.

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

McDermott International, Inc. (MDR) remained flat at $6.31 during trading on Friday. The company’s stock had a trading volume of 803,626 shares. The firm has a 50-day moving average price of $6.44 and a 200-day moving average price of $7.03. McDermott International, Inc. has a 1-year low of $4.32 and a 1-year high of $8.33. The firm has a market capitalization of $1.79 billion, a P/E ratio of 31.55 and a beta of 1.44.

McDermott International (NYSE:MDR) last issued its earnings results on Tuesday, April 25th. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.07. The company had revenue of $519.40 million during the quarter, compared to the consensus estimate of $689.30 million. McDermott International had a net margin of 2.40% and a return on equity of 4.75%. McDermott International’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, equities analysts expect that McDermott International, Inc. will post $0.42 earnings per share for the current fiscal year.

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MDR has been the subject of a number of recent research reports. Scotiabank raised McDermott International from a “sector perform” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Thursday, May 25th. Scotia Howard Weill raised McDermott International from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 25th. Zacks Investment Research raised McDermott International from a “hold” rating to a “strong-buy” rating and set a $7.75 target price for the company in a research report on Friday, April 28th. Howard Weil raised McDermott International from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 25th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $7.00 target price (down from $8.00) on shares of McDermott International in a research report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. McDermott International has a consensus rating of “Buy” and a consensus price target of $8.19.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MDR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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