MRC Global Inc. (NYSE:MRC) Shares Purchased by Sourcerock Group LLC

Sourcerock Group LLC boosted its holdings in MRC Global Inc. (NYSE:MRC) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 501,890 shares of the oil and gas company’s stock after buying an additional 7,786 shares during the period. Sourcerock Group LLC owned 0.59% of MRC Global worth $6,414,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Huntington National Bank acquired a new position in MRC Global in the fourth quarter valued at $34,000. Sterling Capital Management LLC raised its stake in shares of MRC Global by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 2,406 shares during the period. Meeder Asset Management Inc. purchased a new stake in MRC Global during the 4th quarter worth $56,000. Quantinno Capital Management LP acquired a new stake in MRC Global in the 4th quarter valued at $129,000. Finally, Longboard Asset Management LP purchased a new position in MRC Global in the fourth quarter valued at about $134,000. 94.97% of the stock is owned by institutional investors and hedge funds.

MRC Global Price Performance

Shares of MRC opened at $12.81 on Monday. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.41. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 14.72 and a beta of 1.63. The stock has a 50 day moving average of $11.43 and a 200-day moving average of $12.66.

MRC Global (NYSE:MRC) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The firm had revenue of $712.00 million for the quarter, compared to analysts’ expectations of $710.00 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, analysts forecast that MRC Global Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MRC shares. Susquehanna reduced their price target on MRC Global from $15.00 to $13.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. StockNews.com cut MRC Global from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus raised their price objective on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Loop Capital dropped their price objective on MRC Global from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th.

MRC Global 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.