Dynamic Technology Lab Private Ltd bought a new stake in McDermott International Inc (NYSE:MDR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,100 shares of the oil and gas company’s stock, valued at approximately $355,000.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new position in McDermott International during the second quarter worth about $117,000. Icon Wealth Partners LLC purchased a new position in shares of McDermott International in the 2nd quarter worth about $134,000. Hanson & Doremus Investment Management raised its holdings in shares of McDermott International by 60.2% in the 2nd quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 2,566 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of McDermott International in the 2nd quarter worth about $162,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of McDermott International by 549.3% in the second quarter. Nisa Investment Advisors LLC now owns 9,252 shares of the oil and gas company’s stock valued at $182,000 after buying an additional 7,827 shares in the last quarter. 87.82% of the stock is currently owned by institutional investors.

In related news, SVP Scott Munro sold 2,250 shares of McDermott International stock in a transaction on Monday, July 16th. The stock was sold at an average price of $17.87, for a total transaction of $40,207.50. Following the completion of the sale, the senior vice president now owns 35,270 shares of the company’s stock, valued at $630,274.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

A number of research firms have recently issued reports on MDR. Zacks Investment Research lowered McDermott International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 11th. ValuEngine lowered McDermott International from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 6th. Credit Suisse Group cut their target price on McDermott International from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, August 13th. Citigroup cut their target price on McDermott International from $27.00 to $21.00 and set a “$17.66” rating on the stock in a research note on Monday, July 23rd. Finally, KeyCorp cut their target price on McDermott International from $42.00 to $38.00 and set a “$17.66” rating on the stock in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. McDermott International has an average rating of “Hold” and an average price target of $26.18.

Shares of NYSE MDR traded down $0.47 during mid-day trading on Friday, reaching $15.81. The company had a trading volume of 3,946,142 shares, compared to its average volume of 3,327,177. McDermott International Inc has a 1-year low of $15.53 and a 1-year high of $27.21. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 8.23 and a beta of 1.79.

McDermott International (NYSE:MDR) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.98 billion. McDermott International had a return on equity of 10.38% and a net margin of 5.04%. McDermott International’s revenue for the quarter was up 119.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, analysts anticipate that McDermott International Inc will post 1.53 earnings per share for the current year.

McDermott International Company Profile

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.

Featured Story: Short Selling Stocks, A Beginner’s Guide

Institutional Ownership by Quarter for McDermott International (NYSE:MDR)

Receive News & Ratings for McDermott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDermott International and related companies with MarketBeat.com's FREE daily email newsletter.