Tocqueville Asset Management L.P. Raises Position in McDermott International Inc (MDR)

Tocqueville Asset Management L.P. increased its holdings in McDermott International Inc (NYSE:MDR) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,413 shares of the oil and gas company’s stock after acquiring an additional 25,000 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.19% of McDermott International worth $6,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MDR. Hanson & Doremus Investment Management increased its stake in McDermott International by 60.2% during the 2nd quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 2,566 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in McDermott International by 7.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,580 shares of the oil and gas company’s stock valued at $1,043,000 after purchasing an additional 3,918 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in McDermott International by 25.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 23,140 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 4,760 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in McDermott International by 5.0% during the 3rd quarter. Chartwell Investment Partners LLC now owns 108,820 shares of the oil and gas company’s stock valued at $2,006,000 after purchasing an additional 5,174 shares in the last quarter. Finally, Aperio Group LLC increased its stake in McDermott International by 7.9% during the 3rd quarter. Aperio Group LLC now owns 76,672 shares of the oil and gas company’s stock valued at $1,413,000 after purchasing an additional 5,623 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Shares of MDR stock opened at $7.54 on Friday. McDermott International Inc has a 52 week low of $6.97 and a 52 week high of $27.21. The company has a market capitalization of $1.37 billion, a PE ratio of 3.93 and a beta of 2.56. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.78 and a quick ratio of 0.77.

McDermott International (NYSE:MDR) last announced its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). McDermott International had a return on equity of 8.40% and a net margin of 2.05%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The business’s revenue was up 138.7% compared to the same quarter last year. Equities research analysts anticipate that McDermott International Inc will post 1.03 EPS for the current fiscal year.

A number of research firms have weighed in on MDR. Credit Suisse Group reduced their price objective on shares of McDermott International from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, August 13th. ValuEngine lowered shares of McDermott International from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 6th. Zacks Investment Research lowered shares of McDermott International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 11th. TheStreet lowered shares of McDermott International from a “b-” rating to a “c+” rating in a research note on Wednesday, October 24th. Finally, Citigroup reduced their price target on shares of McDermott International from $21.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $25.32.

In other McDermott International news, SVP Tareq Kawash acquired 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The shares were bought at an average price of $7.90 per share, with a total value of $205,400.00. Following the completion of the acquisition, the senior vice president now owns 28,481 shares in the company, valued at approximately $224,999.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Dickson acquired 39,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $9.96 per share, for a total transaction of $396,408.00. Following the acquisition, the chief executive officer now owns 459,889 shares of the company’s stock, valued at approximately $4,580,494.44. The disclosure for this purchase can be found here. Insiders bought 173,300 shares of company stock valued at $1,629,968 over the last quarter. Company insiders own 1.30% of the company’s stock.

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McDermott International Profile

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. 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.

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

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