MRC Global (NYSE:MRC) Given New $17.00 Price Target at Susquehanna

MRC Global (NYSE:MRC) had its price target raised by equities researchers at Susquehanna from $16.00 to $17.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential upside of 18.55% from the stock’s previous close.

A number of other research firms have also recently issued reports on MRC. Stifel Nicolaus boosted their price objective on MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com raised MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st.

MRC Global Trading Down 0.7 %

MRC traded down $0.10 during trading on Thursday, reaching $14.34. The company had a trading volume of 244,880 shares, compared to its average volume of 582,162. MRC Global has a 12-month low of $9.77 and a 12-month high of $14.91. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 15.62 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 2.08. The firm’s 50-day simple moving average is $12.51 and its 200 day simple moving average is $12.75.

MRC Global (NYSE:MRC) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The business had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. During the same period in the previous year, the company earned $0.32 EPS. The firm’s revenue was down 10.2% on a year-over-year basis. Equities research analysts anticipate that MRC Global will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in MRC Global by 4.0% in the 1st quarter. BNP Paribas Financial Markets now owns 78,428 shares of the oil and gas company’s stock valued at $986,000 after acquiring an additional 2,994 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in MRC Global during the 1st quarter worth $201,000. Russell Investments Group Ltd. grew its position in MRC Global by 13.5% during the 1st quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 19,369 shares during the last quarter. ProShare Advisors LLC grew its position in MRC Global by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock worth $190,000 after acquiring an additional 1,186 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in MRC Global by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after acquiring an additional 175,865 shares during the last quarter. 94.97% of the stock is currently owned by 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.