Price Don’t Lie: What Next for McDermott International Stock After Making 52-Week High?

Price Don't Lie: What Next for McDermott International Stock After Making 52 Week High?

The stock of McDermott International (NYSE:MDR) hit a new 52-week high and has $8.14 target or 35.00% above today’s $6.03 share price. The 8 months bullish chart indicates low risk for the $1.50B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $8.14 price target is reached, the company will be worth $525.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.04 million shares traded hands. McDermott International (NYSE:MDR) has risen 39.15% since April 15, 2016 and is uptrending. It has outperformed by 34.53% the S&P500.

McDermott International (NYSE:MDR) Ratings Coverage

Out of 9 analysts covering McDermott International (NYSE:MDR), 2 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 22% are positive. McDermott International has been the topic of 16 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock of McDermott International (NYSE:MDR) earned “Outperform” rating by Imperial Capital on Thursday, September 3. The stock of McDermott International (NYSE:MDR) earned “Neutral” rating by Citigroup on Wednesday, July 27. The firm has “Neutral” rating by Citigroup given on Friday, November 13. On Tuesday, May 24 the stock rating was initiated by Sterne Agee CRT with “Neutral”. The firm has “Sector Outperform” rating by Howard Weil given on Monday, March 28. The stock of McDermott International (NYSE:MDR) has “Neutral” rating given on Monday, March 14 by DA Davidson. Deutsche Bank maintained the shares of MDR in a report on Wednesday, October 26 with “Hold” rating. The stock of McDermott International (NYSE:MDR) earned “Underweight” rating by Morgan Stanley on Tuesday, April 19. On Monday, April 4 the stock rating was downgraded by Credit Suisse to “Neutral”. Imperial Capital maintained it with “Outperform” rating and $7 target price in Thursday, September 17 report.

According to Zacks Investment Research, “McDermott International is one of the leading worldwide energy services companies. The company’s subsidiaries manufacture steam-generating equipment, environmental equipment, and products for the U.S. government. They also provide engineering and construction services for industrial, utility, and hydrocarbon processing facilities, and to the offshore oil and natural gas industry. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 1.22 in Q2 2016. Its up 0.21, from 1.01 in 2016Q1. The ratio is positive, as 18 funds sold all McDermott International shares owned while 68 reduced positions. 39 funds bought stakes while 66 increased positions. They now own 188.30 million shares or 1.08% less from 190.35 million shares in 2016Q1.
Old Mutual Investors (Uk) reported 107,800 shares or 0.01% of all its holdings. Moreover, Manufacturers Life Ins The has 0% invested in McDermott International (NYSE:MDR) for 163,368 shares. Credit Suisse Ag has invested 0% of its portfolio in McDermott International (NYSE:MDR). Tower Limited Co (Trc) owns 11,017 shares or 0.01% of their US portfolio. Moors Cabot has invested 0.04% of its portfolio in McDermott International (NYSE:MDR). The New York-based Gotham Asset Ltd Liability Company has invested 0.11% in McDermott International (NYSE:MDR). Moreover, Voya Investment Limited has 0% invested in McDermott International (NYSE:MDR) for 102,775 shares. Hanson & Doremus Invest Mngmt last reported 12,295 shares in the company. Hightower Advsrs Limited Liability reported 15,396 shares or 0% of all its holdings. Employees Retirement Association Of Colorado owns 66,904 shares or 0% of their US portfolio. Legal & General Public Ltd Company holds 0% of its portfolio in McDermott International (NYSE:MDR) for 411,287 shares. Adirondack Research & holds 1.03% or 558,371 shares in its portfolio. Aviva Plc has 0% invested in the company for 60,000 shares. The Texas-based Argent Company has invested 0.02% in McDermott International (NYSE:MDR). Blackrock Institutional Tru Na reported 6.19 million shares or 0% of all its holdings.

Another recent and important McDermott International (NYSE:MDR) news was published by Finance.Yahoo.com which published an article titled: “Zacks.com featured highlights: McDermott International, NVIDIA, Nxstage …” on November 09, 2016.

MDR Company Profile

McDermott International, Inc., incorporated on August 11, 1959, is a well-known provider of integrated engineering, procurement, construction and installation (EPCI) and module fabrication services for upstream field developments. The Firm delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for complex offshore and subsea gas and oil projects. The Firm operates through three divisions: the Americas, Europe and Africa (AEA); the Middle East (MEA), and Asia (ASA). Operating in approximately 20 countries across the Americas, Europe, Africa, the Middle East, Asia and Australia, its integrated resources include a fleet of marine vessels, fabrication facilities and engineering offices. The Firm supports its activities with project management and procurement services, while utilizing its integrated capabilities in both shallow water and deepwater construction. The Company’s clients include national, integrated and other gas and oil companies, and the Company operates in various offshore gas and oil producing regions throughout the world.

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