MRC Global (NYSE:MRC) Price Target Cut to $15.00 by Analysts at Susquehanna

MRC Global (NYSE:MRC) had its target price reduced by Susquehanna from $17.00 to $15.00 in a research note published on Monday morning,Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

Separately, Stifel Nicolaus decreased their price objective on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday.

MRC Global Trading Up 1.9 %

NYSE MRC opened at $11.72 on Monday. MRC Global has a twelve month low of $9.42 and a twelve month high of $15.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. The stock has a market cap of $998.62 million, a price-to-earnings ratio of 13.47 and a beta of 1.96. The firm’s 50 day moving average price is $13.14 and its two-hundred day moving average price is $13.00.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $736.80 million for the quarter, compared to analysts’ expectations of $726.90 million. During the same period in the previous year, the company posted $0.23 EPS. MRC Global’s revenue was down 10.3% on a year-over-year basis. Equities analysts anticipate that MRC Global will post 0.86 EPS for the current year.

MRC Global declared that its board has initiated a stock buyback program on Friday, January 3rd that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the oil and gas company to buy up to 11% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRC. Victory Capital Management Inc. grew its stake in MRC Global by 2.0% during the third quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company’s stock worth $17,448,000 after buying an additional 26,619 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in MRC Global during the third quarter worth about $329,000. Empowered Funds LLC bought a new stake in MRC Global during the third quarter worth about $3,607,000. Pzena Investment Management LLC grew its stake in MRC Global by 0.4% during the third quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock worth $73,520,000 after buying an additional 20,407 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in MRC Global during the third quarter worth about $193,000. Institutional investors and hedge funds 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.