MRC Global (NYSE:MRC) Price Target Cut to $16.00 by Analysts at Stifel Nicolaus

MRC Global (NYSE:MRC) had its price target reduced by Stifel Nicolaus from $17.00 to $16.00 in a report released on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the oil and gas company’s stock.

MRC Global Stock Performance

Shares of MRC opened at $11.72 on Monday. The firm has a 50-day moving average of $13.14 and a 200-day moving average of $13.00. MRC Global has a one year low of $9.42 and a one year high of $15.41. The company has a market cap of $998.62 million, a PE ratio of 13.47 and a beta of 1.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

MRC Global (NYSE:MRC) last announced its earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $736.80 million during the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. MRC Global’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, equities analysts forecast that MRC Global will post 0.86 earnings per share for the current year.

MRC Global announced that its Board of Directors has approved a stock repurchase program on Friday, January 3rd that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of MRC Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank acquired a new stake in MRC Global in the 4th quarter worth about $34,000. Sterling Capital Management LLC raised its stake in MRC Global by 821.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,406 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in MRC Global in the 4th quarter worth about $56,000. Quantinno Capital Management LP acquired a new stake in MRC Global in the 4th quarter worth about $129,000. Finally, Longboard Asset Management LP acquired a new stake in MRC Global in the 4th quarter worth about $134,000. 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.