McDermott International Inc (NYSE:MDR) has been given a consensus recommendation of “Hold” by the thirteen analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.81.
Several research firms have weighed in on MDR. Scotiabank restated a “buy” rating and set a $9.00 target price on shares of McDermott International in a report on Wednesday, November 1st. Citigroup raised their target price on shares of McDermott International from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Zacks Investment Research raised shares of McDermott International from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. ValuEngine raised shares of McDermott International from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 6th. Finally, Deutsche Bank decreased their price target on shares of McDermott International from $6.50 to $5.25 and set a “hold” rating on the stock in a research note on Tuesday, October 24th.
Several institutional investors have recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of McDermott International during the 4th quarter worth about $1,481,000. Fairpointe Capital LLC boosted its stake in shares of McDermott International by 6.4% during the 4th quarter. Fairpointe Capital LLC now owns 16,699,289 shares of the oil and gas company’s stock worth $109,882,000 after purchasing an additional 997,997 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of McDermott International during the 4th quarter worth about $892,000. Jump Trading LLC acquired a new stake in shares of McDermott International during the 4th quarter worth about $235,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of McDermott International by 37.3% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 146,270 shares of the oil and gas company’s stock worth $962,000 after purchasing an additional 39,760 shares during the last quarter. 85.68% of the stock is currently owned by institutional investors.
About McDermott International
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.
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