MRC Global (NYSE:MRC) Price Target Raised to $15.00

MRC Global (NYSE:MRC) had its price target raised by Susquehanna from $14.00 to $15.00 in a research note published on Thursday morning,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Wall Street Zen upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a research note on Friday, June 6th.

MRC Global Stock Performance

Shares of MRC stock opened at $14.09 on Thursday. MRC Global has a 1 year low of $9.23 and a 1 year high of $15.59. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -58.71 and a beta of 1.65. The stock’s 50-day moving average is $13.49 and its two-hundred day moving average is $12.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.84.

MRC Global (NYSE:MRC) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The business had revenue of $798.00 million during the quarter, compared to the consensus estimate of $784.60 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts predict that MRC Global will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On MRC Global

A number of hedge funds have recently added to or reduced their stakes in MRC. Lord Abbett & CO. LLC lifted its position in MRC Global by 336.0% in the first quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company’s stock valued at $40,163,000 after purchasing an additional 2,696,044 shares during the period. Nuveen LLC acquired a new stake in MRC Global in the first quarter valued at about $14,081,000. Pacer Advisors Inc. acquired a new stake in MRC Global in the first quarter valued at about $12,433,000. JPMorgan Chase & Co. lifted its position in MRC Global by 419.3% in the fourth quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company’s stock valued at $10,375,000 after purchasing an additional 655,455 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC lifted its position in MRC Global by 64.0% in the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company’s stock valued at $14,961,000 after purchasing an additional 508,723 shares during the period. Institutional investors and hedge funds own 94.97% of the company’s stock.

MRC Global Company Profile

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.