MRC Global (NYSE:MRC) had its price target increased by analysts at Stifel Nicolaus from $18.00 to $22.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 15.91% from the company’s current price.

A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded MRC Global from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Cowen set a $24.00 price target on MRC Global and gave the stock a “buy” rating in a report on Friday, October 6th. Robert W. Baird reiterated a “hold” rating and set a $21.00 price target on shares of MRC Global in a report on Monday, October 9th. ValuEngine downgraded MRC Global from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Finally, Susquehanna Bancshares set a $21.00 price target on MRC Global and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.67.

Shares of MRC Global (MRC) opened at $18.98 on Tuesday. The firm has a market capitalization of $1,794.25, a price-to-earnings ratio of -67.78, a P/E/G ratio of 2.10 and a beta of 1.60. MRC Global has a 1-year low of $14.01 and a 1-year high of $22.26. The company has a quick ratio of 1.16, a current ratio of 2.31 and a debt-to-equity ratio of 0.57.

MRC Global (NYSE:MRC) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.05). MRC Global had a negative net margin of 0.09% and a positive return on equity of 1.44%. equities analysts anticipate that MRC Global will post 0.09 EPS for the current fiscal year.

MRC Global announced that its Board of Directors has authorized a share buyback program on Thursday, November 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

A number of institutional investors have recently modified their holdings of MRC. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of MRC Global by 147.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 227,008 shares of the oil and gas company’s stock valued at $3,970,000 after buying an additional 135,325 shares during the period. Algert Global LLC grew its stake in shares of MRC Global by 14.1% in the 3rd quarter. Algert Global LLC now owns 160,369 shares of the oil and gas company’s stock valued at $2,805,000 after buying an additional 19,834 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of MRC Global by 2,026.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,288 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 18,381 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of MRC Global in the 3rd quarter valued at about $929,000. Finally, Cramer Rosenthal Mcglynn LLC grew its stake in shares of MRC Global by 1.4% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 821,695 shares of the oil and gas company’s stock valued at $14,371,000 after buying an additional 11,405 shares during the period. Hedge funds and other institutional investors own 94.65% 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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