Oppenheimer Asset Management Inc. Boosts Holdings in MRC Global Inc. (NYSE:MRC)

Oppenheimer Asset Management Inc. increased its holdings in MRC Global Inc. (NYSE:MRC) by 17.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,264 shares of the oil and gas company’s stock after purchasing an additional 4,440 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MRC Global were worth $387,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd increased its holdings in MRC Global by 7.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 33,422 shares of the oil and gas company’s stock worth $427,000 after buying an additional 2,219 shares in the last quarter. Ieq Capital LLC bought a new stake in MRC Global in the 4th quarter worth about $187,000. New York State Common Retirement Fund increased its holdings in MRC Global by 21.8% in the 4th quarter. New York State Common Retirement Fund now owns 27,900 shares of the oil and gas company’s stock worth $357,000 after buying an additional 4,992 shares in the last quarter. Shaker Investments LLC OH bought a new stake in MRC Global in the 4th quarter worth about $511,000. Finally, Empowered Funds LLC increased its holdings in MRC Global by 32.8% in the 4th quarter. Empowered Funds LLC now owns 376,014 shares of the oil and gas company’s stock worth $4,805,000 after buying an additional 92,874 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

MRC Global Stock Down 0.9 %

NYSE MRC opened at $11.37 on Friday. The stock’s 50 day moving average is $13.37 and its 200 day moving average is $13.08. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. MRC Global Inc. has a 12 month low of $11.08 and a 12 month high of $15.41. The stock has a market cap of $968.79 million, a PE ratio of 13.06 and a beta of 1.97.

MRC Global declared that its board has approved a share buyback program on Friday, January 3rd that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 11% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MRC shares. StockNews.com downgraded MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 9th. Susquehanna boosted their price target on MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a research note on Thursday, November 7th.

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.