MRC Global (NYSE:MRC) Share Price Passes Above Two Hundred Day Moving Average of $11.19

MRC Global Inc. (NYSE:MRC)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.19 and traded as high as $11.71. MRC Global shares last traded at $11.71, with a volume of 983,797 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MRC shares. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of MRC Global in a research report on Wednesday, February 14th. Susquehanna upped their price objective on shares of MRC Global from $13.00 to $15.00 and gave the stock a “positive” rating in a research report on Monday, April 8th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, MRC Global presently has a consensus rating of “Buy” and a consensus target price of $15.33.

MRC Global Stock Performance

The company has a current ratio of 1.48, a quick ratio of 0.76 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average is $12.10 and its two-hundred day moving average is $11.19. The stock has a market cap of $988.21 million, a price-to-earnings ratio of 11.26 and a beta of 2.01.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $810.52 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, sell-side analysts expect that MRC Global Inc. will post 0.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in MRC Global by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 370,643 shares of the oil and gas company’s stock valued at $3,799,000 after acquiring an additional 4,685 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MRC Global by 38.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,356 shares of the oil and gas company’s stock valued at $229,000 after acquiring an additional 6,264 shares in the last quarter. Strs Ohio grew its stake in MRC Global by 17.2% during the 3rd quarter. Strs Ohio now owns 62,800 shares of the oil and gas company’s stock valued at $643,000 after acquiring an additional 9,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in MRC Global by 9.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,651 shares of the oil and gas company’s stock valued at $12,778,000 after acquiring an additional 104,959 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in MRC Global during the 3rd quarter valued at about $114,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.