Oppenheimer Asset Management Inc. Purchases Shares of 25,824 MRC Global Inc. (NYSE:MRC)

Oppenheimer Asset Management Inc. acquired a new position in shares of MRC Global Inc. (NYSE:MRC) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 25,824 shares of the oil and gas company’s stock, valued at approximately $329,000.

Several other large investors have also made changes to their positions in the company. CWM LLC raised its holdings in shares of MRC Global by 308.2% in the 2nd quarter. CWM LLC now owns 2,584 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,951 shares during the period. Innealta Capital LLC purchased a new position in MRC Global in the second quarter valued at approximately $45,000. Canada Pension Plan Investment Board acquired a new position in MRC Global during the second quarter valued at approximately $56,000. DekaBank Deutsche Girozentrale purchased a new stake in MRC Global during the second quarter worth approximately $56,000. Finally, nVerses Capital LLC acquired a new stake in shares of MRC Global in the second quarter worth $70,000. 94.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com lowered MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th. Susquehanna raised their price target on shares of MRC Global from $16.00 to $17.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th.

MRC Global Stock Up 3.4 %

Shares of NYSE:MRC opened at $13.76 on Thursday. MRC Global Inc. has a 12-month low of $9.77 and a 12-month high of $14.91. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.17 billion, a PE ratio of 15.82 and a beta of 1.97. The company has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $12.89.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The business had revenue of $797.00 million for the quarter, compared to analysts’ expectations of $794.17 million. During the same quarter last year, the company posted $0.32 earnings per share. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that MRC Global Inc. will post 0.89 EPS for the current fiscal year.

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.