MRC Global (NYSE:MRC) Price Target Raised to $17.00 at Susquehanna

MRC Global (NYSE:MRC) had its target price increased by Susquehanna from $16.00 to $17.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a positive rating on the oil and gas company’s stock.

Several other equities research analysts have also commented on MRC. Stifel Nicolaus boosted their price objective on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of MRC Global from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st.

MRC Global Trading Down 1.4 %

NYSE MRC traded down $0.19 during trading on Thursday, hitting $13.64. The company had a trading volume of 470,470 shares, compared to its average volume of 587,149. The company’s fifty day moving average is $12.52 and its 200-day moving average is $12.75. MRC Global has a one year low of $9.77 and a one year high of $14.91. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 14.67 and a beta of 1.97.

MRC Global (NYSE:MRC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. MRC Global had a net margin of 3.19% and a return on equity of 22.35%. MRC Global’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. On average, sell-side analysts predict that MRC Global will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On MRC Global

Large investors have recently made changes to their positions in the company. CWM LLC grew its position in MRC Global by 308.2% during the second quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,951 shares during the period. Innealta Capital LLC bought a new position in shares of MRC Global during the 2nd quarter valued at approximately $45,000. DekaBank Deutsche Girozentrale bought a new stake in MRC Global during the 2nd quarter worth approximately $56,000. Canada Pension Plan Investment Board purchased a new position in MRC Global during the second quarter valued at approximately $56,000. Finally, nVerses Capital LLC bought a new position in shares of MRC Global in the second quarter worth approximately $70,000. 94.97% of the stock is currently owned by institutional investors.

About MRC Global

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.