Harbor Capital Advisors Inc. Takes $229,000 Position in MRC Global Inc. (NYSE:MRC)

Harbor Capital Advisors Inc. purchased a new position in shares of MRC Global Inc. (NYSE:MRC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,923 shares of the oil and gas company's stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MRC. GAMMA Investing LLC increased its holdings in shares of MRC Global by 1,576.2% during the 1st quarter. GAMMA Investing LLC now owns 14,063 shares of the oil and gas company's stock worth $161,000 after buying an additional 13,224 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MRC Global by 20.6% in the fourth 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 worth $3,408,000 after acquiring an additional 45,497 shares in the last quarter. Sourcerock Group LLC raised its stake in shares of MRC Global by 1.6% in the 4th quarter. Sourcerock Group LLC now owns 501,890 shares of the oil and gas company's stock valued at $6,414,000 after acquiring an additional 7,786 shares during the period. Squarepoint Ops LLC lifted 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 valued at $287,000 after acquiring an additional 11,025 shares in the last quarter. Finally, State of Wyoming boosted its position in MRC Global by 24.2% during the 4th quarter. State of Wyoming now owns 28,894 shares of the oil and gas company's stock worth $369,000 after purchasing an additional 5,623 shares during the period. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MRC has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen upgraded MRC Global from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Loop Capital cut their price target on MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Finally, Susquehanna reduced their price target on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th.

MRC Global Stock Performance

Shares of NYSE MRC traded down $0.01 during midday trading on Wednesday, hitting $12.82. 163,493 shares of the company's stock were exchanged, compared to its average volume of 641,234. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.41. The stock's 50 day moving average price is $12.04 and its 200-day moving average price is $12.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 0.91. The firm has a market cap of $1.10 billion, a P/E ratio of -116.72 and a beta of 1.61.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.06. The business had revenue of $712.00 million during the quarter, compared to analysts' expectations of $710.00 million. MRC Global had a return on equity of 12.82% and a net margin of 0.47%. The company's quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.20 earnings per share. Equities research analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global 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.