McDermott International, Inc. (MDR) Holdings Trimmed by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. cut its holdings in shares of McDermott International, Inc. (NYSE:MDR) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 403,662 shares of the oil and gas company’s stock after selling 3,060 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.14% of McDermott International worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC acquired a new stake in shares of McDermott International in the 2nd quarter valued at about $106,000. Everence Capital Management Inc. acquired a new stake in shares of McDermott International in the 2nd quarter valued at about $116,000. HighTower Advisors LLC raised its stake in shares of McDermott International by 13.0% in the 1st quarter. HighTower Advisors LLC now owns 17,396 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 2,000 shares during the period. Teacher Retirement System of Texas raised its stake in shares of McDermott International by 4.6% in the 1st quarter. Teacher Retirement System of Texas now owns 19,136 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 849 shares during the period. Finally, World Asset Management Inc acquired a new stake in shares of McDermott International in the 2nd quarter valued at about $134,000. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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McDermott International (NYSE:MDR) last released its quarterly earnings data on Tuesday, July 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). The company had revenue of $788.20 million for the quarter, compared to the consensus estimate of $856.54 million. McDermott International had a return on equity of 5.55% and a net margin of 2.95%. McDermott International’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS.

Several research firms have issued reports on MDR. KeyCorp reissued a “hold” rating on shares of McDermott International in a research note on Friday, October 6th. BidaskClub downgraded McDermott International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Scotiabank reissued a “buy” rating and issued a $9.00 price target on shares of McDermott International in a research note on Friday, July 28th. TheStreet raised McDermott International from a “c” rating to a “b-” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research raised McDermott International from a “hold” rating to a “strong-buy” rating and set a $8.50 price target on the stock in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.47.

McDermott International 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.

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

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