MRC Global (NYSE:MRC) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

MRC Global Inc. (NYSE:MRC - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.51 and traded as high as $13.40. MRC Global shares last traded at $13.14, with a volume of 1,571,178 shares trading hands.

Analysts Set New Price Targets

MRC has been the subject of a number of recent research reports. Wall Street Zen raised shares of MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus lifted their target price on shares of MRC Global from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Susquehanna decreased their target price on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Loop Capital decreased their target price 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.

MRC Global Price Performance

The firm's 50-day moving average is $12.79 and its 200-day moving average is $12.51. 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 company has a market capitalization of $1.13 billion, a P/E ratio of -119.45 and a beta of 1.61.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. The business had revenue of $712.00 million during the quarter, compared to analyst estimates 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 business posted $0.20 earnings per share. Analysts predict that MRC Global Inc. will post 0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On MRC Global

Hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC raised its stake in MRC Global by 336.0% during the first quarter. Lord Abbett & CO. LLC now owns 3,498,499 shares of the oil and gas company's stock valued at $40,163,000 after purchasing an additional 2,696,044 shares in the last quarter. Nuveen LLC purchased a new stake in MRC Global during the first quarter valued at $14,081,000. Pacer Advisors Inc. purchased a new stake in MRC Global during the first quarter valued at $12,433,000. 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 valued at $10,375,000 after purchasing an additional 655,455 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC raised its stake in MRC Global by 64.0% during the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,303,210 shares of the oil and gas company's stock valued at $14,961,000 after purchasing an additional 508,723 shares in the last quarter. 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.

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