MRC Global (NYSE:MRC) Price Target Raised to $16.00 at Susquehanna

MRC Global (NYSE:MRC - Free Report) had its target price hoisted by Susquehanna from $15.00 to $16.00 in a research report report published on Friday morning, Benzinga reports. They currently have a positive rating on the oil and gas company's stock.

Separately, Stephens restated an overweight rating and set a $17.00 price target on shares of MRC Global in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $15.67.

MRC Global Trading Up 7.1 %

NYSE:MRC traded up $0.91 during mid-day trading on Friday, hitting $13.67. 1,319,540 shares of the stock traded hands, compared to its average volume of 580,431. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 13.14 and a beta of 2.01. MRC Global has a 52 week low of $8.15 and a 52 week high of $13.68. The firm's 50 day moving average is $12.13 and its two-hundred day moving average is $11.20. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02.

MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. MRC Global had a net margin of 3.34% and a return on equity of 26.92%. The business had revenue of $806.00 million for the quarter, compared to analyst estimates of $760.76 million. During the same quarter in the prior year, the business posted $0.32 EPS. MRC Global's revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities research analysts predict that MRC Global will post 0.99 earnings per share for the current year.

Institutional Investors Weigh In On MRC Global

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in MRC Global by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company's stock worth $115,391,000 after purchasing an additional 175,865 shares during the period. Pzena Investment Management LLC lifted its position in shares of MRC Global by 4.0% during the 3rd quarter. Pzena Investment Management LLC now owns 7,448,170 shares of the oil and gas company's stock valued at $76,344,000 after buying an additional 285,843 shares in the last quarter. Engine Capital Management LP increased its holdings in MRC Global by 30.0% in the 4th quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company's stock worth $42,574,000 after acquiring an additional 891,454 shares in the last quarter. Dimensional Fund Advisors LP raised its position in MRC Global by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,327,337 shares of the oil and gas company's stock worth $36,635,000 after acquiring an additional 36,845 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of MRC Global by 22.9% in the third quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company's stock valued at $30,863,000 after purchasing an additional 561,706 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.