MRC Global (NYSE:MRC) Stock Rating Reaffirmed by Susquehanna

MRC Global (NYSE:MRC)‘s stock had its “positive” rating reiterated by Susquehanna in a report issued on Wednesday, Benzinga reports. They currently have a $16.00 target price on the oil and gas company’s stock. Susquehanna’s price target points to a potential upside of 29.76% from the company’s current price.

Separately, StockNews.com raised MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 10th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MRC Global has an average rating of “Buy” and a consensus target price of $15.67.

MRC Global Stock Performance

Shares of MRC traded up $0.04 during mid-day trading on Wednesday, reaching $12.33. 27,941 shares of the company’s stock were exchanged, compared to its average volume of 562,791. The business’s fifty day simple moving average is $12.53 and its 200-day simple moving average is $11.78. The stock has a market capitalization of $1.05 billion, a PE ratio of 14.34 and a beta of 2.03. MRC Global has a 52-week low of $8.15 and a 52-week high of $14.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.48 and a quick ratio of 0.81.

MRC Global (NYSE:MRC) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. MRC Global had a net margin of 2.97% and a return on equity of 23.60%. The business had revenue of $806.00 million during the quarter, compared to the consensus estimate of $760.76 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts expect that MRC Global will post 1 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Grant R. Bates sold 4,698 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $13.76, for a total transaction of $64,644.48. Following the transaction, the insider now directly owns 145,191 shares of the company’s stock, valued at $1,997,828.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider John P. Mccarthy sold 11,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.78, for a total value of $151,580.00. Following the sale, the insider now owns 85,674 shares in the company, valued at approximately $1,180,587.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Grant R. Bates sold 4,698 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.76, for a total value of $64,644.48. Following the completion of the sale, the insider now directly owns 145,191 shares of the company’s stock, valued at $1,997,828.16. The disclosure for this sale can be found here. In the last three months, insiders sold 90,698 shares of company stock valued at $1,242,374. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. grew its stake in MRC Global by 77.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 58,266 shares of the oil and gas company’s stock worth $732,000 after buying an additional 25,482 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MRC Global by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 66,187 shares of the oil and gas company’s stock worth $832,000 after purchasing an additional 2,735 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of MRC Global in the 1st quarter worth approximately $218,000. Acadian Asset Management LLC acquired a new stake in shares of MRC Global during the 1st quarter valued at $963,000. Finally, Vanguard Group Inc. lifted its position 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 buying an additional 175,865 shares in 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.