Susquehanna Lowers MRC Global (NYSE:MRC) Price Target to $13.00

MRC Global (NYSE:MRC - Free Report) had its price objective reduced by Susquehanna from $15.00 to $13.00 in a research report sent to investors on Monday,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company's stock.

MRC has been the subject of several other reports. Stifel Nicolaus lowered their price target on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating for the company in a report on Monday, March 17th. StockNews.com downgraded MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Finally, Loop Capital decreased their price target on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th.

MRC Global Stock Performance

Shares of NYSE MRC traded up $0.63 during midday trading on Monday, hitting $10.87. 885,846 shares of the company's stock were exchanged, compared to its average volume of 630,716. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $935.29 million, a PE ratio of 12.49 and a beta of 1.67. MRC Global has a 12 month low of $9.23 and a 12 month high of $15.41. The company's 50 day moving average price is $11.52 and its 200 day moving average price is $12.73.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company's quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share. As a group, analysts predict that MRC Global will post 0.86 earnings per share for the current fiscal year.

MRC Global announced that its board has initiated a stock buyback plan on Friday, January 3rd that allows the company to buyback $125.00 million in shares. This buyback authorization allows the oil and gas company to buy up to 11% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Institutional Trading of MRC Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of MRC Global by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 9,390,014 shares of the oil and gas company's stock valued at $120,004,000 after acquiring an additional 42,331 shares during the last quarter. Pzena Investment Management LLC lifted its position in MRC Global by 1.0% in the fourth quarter. Pzena Investment Management LLC now owns 5,825,650 shares of the oil and gas company's stock valued at $74,452,000 after purchasing an additional 54,859 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of MRC Global by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,827,433 shares of the oil and gas company's stock valued at $48,914,000 after purchasing an additional 164,973 shares during the period. American Century Companies Inc. raised its position in MRC Global by 18.5% during the 4th quarter. American Century Companies Inc. now owns 2,281,646 shares of the oil and gas company's stock valued at $29,159,000 after purchasing an additional 356,372 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MRC Global by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,261,364 shares of the oil and gas company's stock worth $28,900,000 after purchasing an additional 121,601 shares during the period. Hedge funds and other institutional investors own 94.97% of the company's stock.

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.