MRC Global (NYSE:MRC) Price Target Lowered to $17.00 at Loop Capital

MRC Global (NYSE:MRC) had its price target decreased by Loop Capital from $18.00 to $17.00 in a report issued on Tuesday,Benzinga reports. Loop Capital currently has a buy rating on the oil and gas company’s stock.

MRC has been the topic of a number of other research reports. Stifel Nicolaus lowered their price objective on MRC Global from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday. Susquehanna lowered their price objective on MRC Global from $17.00 to $15.00 and set a “positive” rating on the stock in a report on Monday. Finally, StockNews.com lowered MRC Global from a “buy” rating to a “hold” rating in a research note on Monday.

MRC Global Stock Up 2.5 %

MRC opened at $12.08 on Tuesday. The business’s 50-day simple moving average is $13.12 and its 200-day simple moving average is $12.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.99. MRC Global has a one year low of $9.42 and a one year high of $15.41. The stock has a market capitalization of $1.03 billion, a P/E ratio of 13.88 and a beta of 1.96.

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

MRC Global declared that its Board of Directors has authorized a stock buyback plan 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 repurchase up to 11% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of MRC Global by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company’s stock valued at $120,004,000 after buying an additional 42,331 shares during the period. Pzena Investment Management LLC grew its stake in shares of MRC Global by 1.0% during the 4th quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company’s stock valued at $74,452,000 after buying an additional 54,859 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of MRC Global by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company’s stock valued at $48,914,000 after buying an additional 164,973 shares during the period. Wellington Management Group LLP boosted its position in MRC Global by 1.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,209,251 shares of the oil and gas company’s stock worth $40,886,000 after purchasing an additional 55,553 shares during the period. Finally, American Century Companies Inc. boosted its position in MRC Global by 18.5% during the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company’s stock worth $29,159,000 after purchasing an additional 356,372 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.