MRC Global (NYSE:MRC)‘s stock had its “buy” rating reissued by analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They presently have a $18.00 target price on the oil and gas company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 12.29% from the company’s current price.

Several other research analysts have also recently issued reports on MRC. Zacks Investment Research raised shares of MRC Global from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Cowen reduced their target price on shares of MRC Global from $24.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, November 6th. J P Morgan Chase & Co reduced their target price on shares of MRC Global from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, September 12th. Robert W. Baird reissued a “hold” rating and set a $21.00 target price on shares of MRC Global in a report on Monday, October 9th. Finally, ValuEngine cut shares of MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.44.

MRC Global (NYSE:MRC) traded up $0.04 during midday trading on Thursday, hitting $16.03. 905,800 shares of the company’s stock were exchanged, compared to its average volume of 912,657. MRC Global has a fifty-two week low of $14.01 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.31 and a quick ratio of 1.16.

MRC Global announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 2nd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Redwood Investments LLC grew its position in shares of MRC Global by 24.0% in the second quarter. Redwood Investments LLC now owns 11,450 shares of the oil and gas company’s stock valued at $189,000 after purchasing an additional 2,213 shares during the period. Koch Industries Inc. acquired a new stake in shares of MRC Global in the second quarter valued at about $238,000. BNP Paribas Arbitrage SA grew its position in shares of MRC Global by 328.0% in the second quarter. BNP Paribas Arbitrage SA now owns 16,568 shares of the oil and gas company’s stock valued at $274,000 after purchasing an additional 12,697 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MRC Global in the third quarter valued at about $276,000. Finally, Suntrust Banks Inc. grew its position in shares of MRC Global by 1.2% in the second quarter. Suntrust Banks Inc. now owns 18,307 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 94.66% of the company’s stock.

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About MRC Global

MRC Global Inc is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company’s segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region.

Analyst Recommendations for MRC Global (NYSE:MRC)

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