MRC Global (NYSE:MRC) Price Target Cut to $15.00 by Analysts at Susquehanna

MRC Global (NYSE:MRC) had its price target cut by research analysts at Susquehanna from $17.00 to $15.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target points to a potential upside of 25.62% from the company’s previous close.

Separately, Stifel Nicolaus reduced their target price on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday.

MRC Global Price Performance

Shares of MRC stock traded up $0.44 during trading hours on Monday, reaching $11.94. The company had a trading volume of 131,437 shares, compared to its average volume of 564,347. MRC Global has a 12-month low of $9.42 and a 12-month high of $15.41. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 13.70 and a beta of 1.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The stock has a fifty day moving average of $13.16 and a 200-day moving average of $13.01.

MRC Global (NYSE:MRC) last issued its earnings results on Friday, March 14th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The company had revenue of $736.80 million during the quarter, compared to analysts’ expectations of $726.90 million. During the same period in the prior year, the business earned $0.23 EPS. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. On average, equities analysts anticipate that MRC Global will post 0.86 earnings per share for the current year.

MRC Global declared that its board has approved a stock buyback program on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 11% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its stake in MRC Global by 3.7% during the fourth quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company’s stock worth $440,000 after purchasing an additional 1,234 shares during the last quarter. Swiss National Bank lifted its position in shares of MRC Global by 0.9% during the 4th quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company’s stock worth $2,143,000 after buying an additional 1,500 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of MRC Global by 3.8% in the 4th quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company’s stock valued at $659,000 after buying an additional 1,886 shares in the last quarter. Federated Hermes Inc. grew its position in shares of MRC Global by 2.0% in the 4th quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company’s stock valued at $1,337,000 after buying an additional 2,003 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in MRC Global by 7.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 33,422 shares of the oil and gas company’s stock worth $427,000 after acquiring an additional 2,219 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

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.