MRC Global (NYSE:MRC) Price Target Increased to $15.00 by Analysts at Stifel Nicolaus

MRC Global (NYSE:MRC) had its price target increased by Stifel Nicolaus from $14.00 to $15.00 in a research report report published on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the oil and gas company’s stock.

A number of other equities analysts have also commented on MRC. Susquehanna restated a positive rating and set a $16.00 price objective on shares of MRC Global in a research note on Wednesday, June 26th. StockNews.com lowered MRC Global from a strong-buy rating to a buy rating in a research note on Thursday, October 10th.

MRC Global Price Performance

Shares of NYSE MRC opened at $12.72 on Tuesday. The firm has a market cap of $1.08 billion, a P/E ratio of 14.79 and a beta of 1.97. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. MRC Global has a 1-year low of $9.47 and a 1-year high of $14.91. The business’s 50 day moving average is $12.50 and its 200-day moving average is $12.73.

MRC Global (NYSE:MRC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $832.00 million for the quarter, compared to analyst estimates of $831.32 million. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts predict that MRC Global will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On MRC Global

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in shares of MRC Global in the 1st quarter valued at $963,000. Rhumbline Advisers boosted its holdings in shares of MRC Global by 62.0% in the 2nd quarter. Rhumbline Advisers now owns 247,047 shares of the oil and gas company’s stock valued at $3,189,000 after purchasing an additional 94,566 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of MRC Global by 162.9% in the 2nd quarter. Quest Partners LLC now owns 75,977 shares of the oil and gas company’s stock valued at $981,000 after purchasing an additional 47,075 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of MRC Global by 18.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock valued at $16,636,000 after purchasing an additional 204,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of MRC Global by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock valued at $47,629,000 after purchasing an additional 97,445 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

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.