Oppenheimer Asset Management Inc. Purchases 20,455 Shares of MRC Global Inc. (NYSE:MRC)

Oppenheimer Asset Management Inc. boosted its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 67.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,719 shares of the oil and gas company's stock after purchasing an additional 20,455 shares during the period. Oppenheimer Asset Management Inc. owned about 0.06% of MRC Global worth $582,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Lord Abbett & CO. LLC bought a new stake in shares of MRC Global during the 4th quarter worth $10,255,000. JPMorgan Chase & Co. raised its stake in MRC Global by 419.3% during the fourth quarter. JPMorgan Chase & Co. now owns 811,787 shares of the oil and gas company's stock worth $10,375,000 after acquiring an additional 655,455 shares in the last quarter. Norges Bank bought a new position in shares of MRC Global in the fourth quarter worth about $4,555,000. American Century Companies Inc. lifted its holdings in shares of MRC Global by 18.5% in the fourth quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company's stock worth $29,159,000 after acquiring an additional 356,372 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of MRC Global by 218.0% in the 4th quarter. Barclays PLC now owns 480,669 shares of the oil and gas company's stock valued at $6,143,000 after purchasing an additional 329,500 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MRC shares. Wall Street Zen upgraded shares of MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus boosted their target price on shares of MRC Global from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday. Loop Capital lowered their price target on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, Susquehanna cut their price objective on MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a report on Monday, April 14th.

MRC Global Trading Down 2.2%

Shares of MRC Global stock traded down $0.31 on Tuesday, hitting $13.41. The stock had a trading volume of 303,674 shares, compared to its average volume of 783,351. The stock has a 50 day moving average of $12.55 and a 200 day moving average of $12.49. The firm has a market capitalization of $1.15 billion, a P/E ratio of -121.94 and a beta of 1.61. MRC Global Inc. has a twelve month low of $9.23 and a twelve month high of $15.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.91 and a current ratio of 1.68.

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

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.