MRC Global (NYSE:MRC) Receives Positive Rating from Susquehanna

Susquehanna restated their positive rating on shares of MRC Global (NYSE:MRC) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $16.00 price target on the oil and gas company’s stock.

Separately, StockNews.com upgraded MRC Global from a buy rating to a strong-buy rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MRC Global currently has an average rating of Buy and a consensus target price of $15.67.

MRC Global Price Performance

Shares of MRC stock opened at $12.91 on Wednesday. The stock’s fifty day moving average is $12.58 and its 200-day moving average is $11.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.81 and a current ratio of 1.48. The stock has a market capitalization of $1.10 billion, a PE ratio of 15.01 and a beta of 2.03. MRC Global has a 52 week low of $8.15 and a 52 week high of $14.02.

MRC Global (NYSE:MRC) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The company had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $760.76 million. MRC Global had a return on equity of 23.60% and a net margin of 2.97%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts expect that MRC Global will post 1 EPS for the current fiscal year.

Insider Buying and Selling at MRC Global

In other MRC Global news, insider John P. Mccarthy sold 11,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total value of $151,580.00. Following the transaction, the insider now owns 85,674 shares of the company’s stock, valued at $1,180,587.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Leonard M. Anthony sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total transaction of $551,200.00. Following the sale, the director now owns 101,120 shares of the company’s stock, valued at $1,393,433.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John P. Mccarthy sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.78, for a total value of $151,580.00. Following the sale, the insider now directly owns 85,674 shares in the company, valued at approximately $1,180,587.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,698 shares of company stock valued at $1,242,374. 20.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MRC Global

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP acquired a new stake in shares of MRC Global during the third quarter worth about $33,000. Luminus Management LLC bought a new position in shares of MRC Global during the third quarter worth about $42,000. New York State Teachers Retirement System bought a new position in shares of MRC Global during the first quarter worth about $94,000. Mackenzie Financial Corp bought a new position in shares of MRC Global during the fourth quarter worth about $120,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of MRC Global during the fourth quarter worth about $122,000. Institutional investors and hedge funds own 94.97% of the company’s stock.

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.