Susquehanna Issues Positive Forecast for MRC Global (NYSE:MRC) Stock Price

MRC Global (NYSE:MRC) had its price objective raised by Susquehanna from $16.00 to $17.00 in a research note released on Thursday morning,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Several other brokerages have also commented on MRC. StockNews.com upgraded shares of MRC Global from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their price objective on MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th.

MRC Global Price Performance

Shares of MRC opened at $13.64 on Thursday. MRC Global has a 12 month low of $9.77 and a 12 month high of $14.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.10. The stock has a fifty day moving average price of $12.53 and a 200 day moving average price of $12.77. The company has a market cap of $1.16 billion, a P/E ratio of 15.68 and a beta of 1.97.

MRC Global (NYSE:MRC) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 20.12%. The business had revenue of $797.00 million during the quarter, compared to analyst estimates of $794.17 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was down 10.2% on a year-over-year basis. On average, research analysts forecast that MRC Global will post 0.85 earnings per share for the current year.

Institutional Trading of MRC Global

Institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in shares of MRC Global during the third quarter valued at approximately $193,000. Pzena Investment Management LLC boosted its stake in MRC Global by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 5,770,791 shares of the oil and gas company’s stock valued at $73,520,000 after purchasing an additional 20,407 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of MRC Global during the 3rd quarter valued at $3,607,000. Oppenheimer Asset Management Inc. bought a new stake in shares of MRC Global in the 3rd quarter worth $329,000. Finally, MQS Management LLC acquired a new stake in shares of MRC Global in the third quarter valued at $154,000. 94.97% of the stock is owned by institutional investors and hedge funds.

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.