The stock of McDermott International (NYSE:MDR) hit a new 52-week high and has $6.86 target or 9.00% above today’s $6.29 share price. The 8 months bullish chart indicates low risk for the $1.57 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $6.86 price target is reached, the company will be worth $141.30 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 424,440 shares traded hands. McDermott International (NYSE:MDR) has risen 38.68% since April 20, 2016 and is uptrending. It has outperformed by 34.13% 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 firm has “Outperform” rating by Imperial Capital given on Thursday, September 3. The firm earned “Neutral” rating on Wednesday, July 27 by Citigroup. The firm has “Neutral” rating by Sterne Agee CRT given on Tuesday, May 24. The stock of McDermott International (NYSE:MDR) has “Neutral” rating given on Monday, March 14 by DA Davidson. As per Friday, November 13, the company rating was initiated by Citigroup. The stock of McDermott International (NYSE:MDR) has “Hold” rating given on Wednesday, October 26 by Deutsche Bank. The firm has “Underweight” rating given on Tuesday, April 19 by Morgan Stanley. The stock of McDermott International (NYSE:MDR) has “Neutral” rating given on Monday, April 4 by Credit Suisse. The rating was maintained by Imperial Capital with “Outperform” on Thursday, September 17. Howard Weil upgraded the stock to “Sector Outperform” rating in Monday, March 28 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 1.23 in 2016 Q2. Its up 0.01, from 1.22 in 2016Q1. The ratio increased, 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.
Jefferies Gru Limited Liability holds 113,955 shares or 0% of its portfolio. Landscape Mgmt Ltd holds 0.08% of its portfolio in McDermott International (NYSE:MDR) for 119,600 shares. Ancora Limited Liability last reported 14,000 shares in the company. Klingenstein Fields Ltd Liability holds 0% of its portfolio in McDermott International (NYSE:MDR) for 11,670 shares. Ellington Mgmt Group Limited Liability Corp accumulated 0.12% or 18,100 shares. Ubs Asset Americas last reported 6.85M shares in the company. Hancock Holding Com has 0.36% invested in the company for 1.77M shares. Inv Counselors Of Maryland Ltd Com accumulated 1.35% or 4.98M shares. Brandywine Global Mngmt Limited last reported 664,146 shares in the company. State Street last reported 0% of its portfolio in the stock. Pacad Invest Ltd has 61,900 shares for 0.04% of their US portfolio. Kistler accumulated 1,000 shares or 0% of the stock. Kanaly last reported 0.01% of its portfolio in the stock. Parametric Associates Ltd Llc accumulated 0% or 626,688 shares. Manufacturers Life The has 0% invested in the company for 163,368 shares.
Another recent and important McDermott International (NYSE:MDR) news was published by Seekingalpha.com which published an article titled: “McDermott International (MDR) Q3 2016 Results – Earnings Call Transcript” on October 26, 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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