MRC Global (NYSE:MRC) Receives Positive Rating from Susquehanna

Susquehanna restated their positive rating on shares of MRC Global (NYSE:MRC) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the oil and gas company’s stock.

Separately, StockNews.com raised MRC Global from a buy rating to a strong-buy rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MRC Global presently has a consensus rating of Buy and a consensus price target of $15.67.

MRC Global Stock Performance

Shares of MRC Global stock opened at $12.91 on Wednesday. The company has a market cap of $1.10 billion, a PE ratio of 15.01 and a beta of 2.03. MRC Global has a 52 week low of $8.15 and a 52 week high of $14.02. The business has a 50 day moving average price of $12.58 and a 200-day moving average price of $11.82. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.01.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $806.00 million during the quarter, compared to the consensus estimate of $760.76 million. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Equities analysts anticipate that MRC Global will post 1 earnings per share for the current fiscal year.

Insider Activity at MRC Global

In related news, insider Grant R. Bates sold 4,698 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $13.76, for a total transaction of $64,644.48. Following the completion of the sale, the insider now directly owns 145,191 shares of the company’s stock, valued at $1,997,828.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MRC Global news, insider Grant R. Bates sold 35,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $13.57, for a total value of $474,950.00. Following the completion of the sale, the insider now directly owns 110,191 shares of the company’s stock, valued at $1,495,291.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Grant R. Bates sold 4,698 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $13.76, for a total value of $64,644.48. Following the completion of the sale, the insider now directly owns 145,191 shares of the company’s stock, valued at $1,997,828.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,698 shares of company stock valued at $1,242,374. 20.90% of the stock is owned by insiders.

Institutional Trading of MRC Global

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in MRC Global by 2.0% in the first quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after buying an additional 175,865 shares during the last quarter. Pzena Investment Management LLC increased its position in MRC Global by 5.1% in the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after buying an additional 358,580 shares during the last quarter. Engine Capital Management LP increased its position in MRC Global by 30.0% in the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock worth $42,574,000 after buying an additional 891,454 shares during the last quarter. Dimensional Fund Advisors LP increased its position in MRC Global by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company’s stock worth $36,635,000 after buying an additional 36,845 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in MRC Global by 22.9% in the third quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock worth $30,863,000 after buying an additional 561,706 shares during the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.

MRC Global Company 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.