MRC Global Inc. (NYSE:MRC) Short Interest Update

MRC Global Inc. (NYSE:MRC - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 2,290,000 shares, a growth of 30.9% from the April 30th total of 1,750,000 shares. Based on an average daily trading volume, of 766,100 shares, the days-to-cover ratio is currently 3.0 days. Currently, 3.4% of the company's stock are sold short.

Hedge Funds Weigh In On MRC Global

A number of institutional investors have recently modified their holdings of MRC. Proficio Capital Partners LLC acquired a new position in MRC Global during the 4th quarter worth $233,000. Shaker Investments LLC OH bought a new position in MRC Global in the fourth quarter valued at about $511,000. Barclays PLC increased its position in MRC Global by 197.7% in the third quarter. Barclays PLC now owns 151,169 shares of the oil and gas company's stock worth $1,927,000 after purchasing an additional 100,384 shares during the period. Empowered Funds LLC raised its holdings in MRC Global by 32.8% during the 4th quarter. Empowered Funds LLC now owns 376,014 shares of the oil and gas company's stock worth $4,805,000 after purchasing an additional 92,874 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in MRC Global by 419.3% during the 4th 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 during the period. 94.97% of the stock is owned by institutional investors.

MRC Global Price Performance

Shares of MRC traded up $0.03 during trading hours on Thursday, hitting $12.60. The stock had a trading volume of 538,429 shares, compared to its average volume of 745,841. MRC Global has a 52 week low of $9.23 and a 52 week high of $15.41. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 14.48 and a beta of 1.63. The company's fifty day moving average is $11.61 and its two-hundred day moving average is $12.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

MRC Global (NYSE:MRC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.06. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $712.00 million during the quarter, compared to analyst estimates of $710.00 million. During the same quarter last year, the business posted $0.20 earnings per share. The company's revenue was down 11.7% on a year-over-year basis. On average, analysts anticipate that MRC Global will post 0.86 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on MRC shares. Stifel Nicolaus increased their price target on MRC Global from $14.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Loop Capital lowered their target price on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Wall Street Zen lowered shares of MRC Global from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Susquehanna lowered their price target on MRC Global from $15.00 to $13.00 and set a "positive" rating on the stock in a research report on Monday, April 14th.

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.