MRC Global (NYSE:MRC) Given New $15.00 Price Target at Stifel Nicolaus

MRC Global (NYSE:MRC) had its target price boosted by Stifel Nicolaus from $14.00 to $15.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other research analysts have also recently commented on the company. Susquehanna restated a “positive” rating and set a $16.00 price objective on shares of MRC Global in a research note on Wednesday, June 26th. StockNews.com cut MRC Global from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 10th.

MRC Global Price Performance

MRC stock opened at $12.60 on Tuesday. The stock has a 50-day moving average price of $12.52 and a two-hundred day moving average price of $12.72. MRC Global has a 12-month low of $9.47 and a 12-month high of $14.91. The company has a current ratio of 2.08, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.07 billion, a PE ratio of 14.65 and a beta of 1.97.

MRC Global (NYSE:MRC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. MRC Global had a return on equity of 22.35% and a net margin of 3.19%. The firm had revenue of $832.00 million during the quarter, compared to the consensus estimate of $831.32 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, research analysts predict that MRC Global will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of MRC Global by 2.0% in the first quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after acquiring an additional 175,865 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of MRC Global by 5.1% in the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after acquiring an additional 358,580 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of MRC Global by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,689,511 shares of the oil and gas company’s stock worth $47,629,000 after acquiring an additional 97,445 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of MRC Global by 7,541.8% in the second quarter. Victory Capital Management Inc. now owns 1,342,896 shares of the oil and gas company’s stock worth $17,337,000 after acquiring an additional 1,325,323 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of MRC Global by 18.9% in the second quarter. Renaissance Technologies LLC now owns 1,288,600 shares of the oil and gas company’s stock worth $16,636,000 after acquiring an additional 204,600 shares in the last quarter. 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.