Stifel Nicolaus Cuts MRC Global (NYSE:MRC) Price Target to $16.00

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

MRC Global Trading Up 2.4 %

NYSE MRC opened at $12.41 on Monday. MRC Global has a 12 month low of $9.42 and a 12 month high of $15.41. 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 stock has a 50 day moving average of $13.10 and a 200-day moving average of $12.99. The company has a market cap of $1.06 billion, a PE ratio of 14.26 and a beta of 1.96.

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

MRC Global announced that its board has initiated a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MRC Global by 20.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 266,690 shares of the oil and gas company’s stock valued at $3,408,000 after purchasing an additional 45,497 shares during the last quarter. Sourcerock Group LLC raised its position in shares of MRC Global by 1.6% in the fourth quarter. Sourcerock Group LLC now owns 501,890 shares of the oil and gas company’s stock valued at $6,414,000 after purchasing an additional 7,786 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of MRC Global by 96.8% during the 4th quarter. Squarepoint Ops LLC now owns 22,418 shares of the oil and gas company’s stock worth $287,000 after buying an additional 11,025 shares during the period. State of Wyoming grew its stake in MRC Global by 24.2% in the 4th quarter. State of Wyoming now owns 28,894 shares of the oil and gas company’s stock valued at $369,000 after buying an additional 5,623 shares during the last quarter. Finally, Shay Capital LLC bought a new position in MRC Global in the 4th quarter valued at about $270,000. 94.97% of the stock is owned by institutional investors and hedge funds.

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.