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

MRC Global (NYSE:MRC - Get Free Report) had its target price lowered by stock analysts at Stifel Nicolaus from $17.00 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. Stifel Nicolaus' target price would suggest a potential upside of 11.77% from the stock's previous close.

MRC has been the subject of several other research reports. Susquehanna cut their price target on MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th.

MRC Global Stock Performance

Shares of NYSE MRC traded up $0.30 during trading on Monday, reaching $14.32. 914,838 shares of the company traded hands, compared to its average volume of 706,463. The firm has a 50 day simple moving average of $12.99 and a 200-day simple moving average of $12.54. The stock has a market capitalization of $1.23 billion, a PE ratio of -130.14 and a beta of 1.61. MRC Global has a 52-week low of $9.23 and a 52-week high of $15.59. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.70.

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 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $712.00 million for 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 business's quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.20 EPS. Equities research analysts anticipate that MRC Global will post 0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MRC. Meeder Asset Management Inc. grew its stake in shares of MRC Global by 24.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock valued at $63,000 after buying an additional 1,081 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of MRC Global by 3.7% in the fourth quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company's stock worth $440,000 after purchasing an additional 1,234 shares during the period. Swiss National Bank increased its stake in shares of MRC Global by 0.9% in the fourth quarter. Swiss National Bank now owns 167,649 shares of the oil and gas company's stock worth $2,143,000 after purchasing an additional 1,500 shares during the period. MetLife Investment Management LLC increased its stake in shares of MRC Global by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company's stock worth $659,000 after purchasing an additional 1,886 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of MRC Global by 2.0% during the fourth quarter. Federated Hermes Inc. now owns 104,601 shares of the oil and gas company's stock valued at $1,337,000 after buying an additional 2,003 shares during the last quarter. 94.97% of the stock is currently owned by institutional investors.

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.