Hsbc Holdings PLC Takes Position in McDermott International Inc (MDR)

Hsbc Holdings PLC purchased a new stake in McDermott International Inc (NYSE:MDR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 533,577 shares of the oil and gas company’s stock, valued at approximately $3,490,000. Hsbc Holdings PLC owned approximately 0.30% of McDermott International at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in McDermott International in the 2nd quarter valued at $43,106,000. Engineers Gate Manager LP acquired a new stake in McDermott International in the 3rd quarter valued at $197,000. Private Advisor Group LLC acquired a new stake in McDermott International in the 3rd quarter valued at $190,000. Wells Fargo & Company MN increased its holdings in McDermott International by 37.1% in the 3rd quarter. Wells Fargo & Company MN now owns 883,329 shares of the oil and gas company’s stock valued at $16,279,000 after purchasing an additional 238,844 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in McDermott International by 146.6% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 107,712 shares of the oil and gas company’s stock valued at $1,985,000 after purchasing an additional 64,030 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.

NYSE:MDR opened at $7.89 on Friday. The company has a debt-to-equity ratio of 4.20, a current ratio of 0.72 and a quick ratio of 0.70. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -7.97 and a beta of 2.76. McDermott International Inc has a 1-year low of $6.10 and a 1-year high of $23.36.

McDermott International (NYSE:MDR) last posted its quarterly earnings data on Monday, February 25th. The oil and gas company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($1.76). The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.64 billion. McDermott International had a negative net margin of 40.07% and a negative return on equity of 3.20%. The business’s quarterly revenue was up 188.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. As a group, sell-side analysts expect that McDermott International Inc will post 1.69 earnings per share for the current fiscal year.

Several analysts recently issued reports on the company. TheStreet downgraded McDermott International from a “c-” rating to a “d” rating in a report on Monday, March 11th. ValuEngine upgraded McDermott International from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. Finally, Zacks Investment Research upgraded McDermott International from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $23.50.

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About McDermott International

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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