Susquehanna Cuts MRC Global (NYSE:MRC) Price Target to $15.00

MRC Global (NYSE:MRC) had its price target decreased by Susquehanna from $17.00 to $15.00 in a report released on Monday morning,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Separately, Stifel Nicolaus lowered their price target on shares of MRC Global from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday.

MRC Global Stock Up 2.4 %

NYSE MRC opened at $12.41 on Monday. The stock’s 50 day simple moving average is $13.10 and its 200 day simple moving average is $12.99. MRC Global has a one year low of $9.42 and a one year high of $15.41. The firm has a market cap of $1.06 billion, a PE ratio of 14.26 and a beta of 1.96. 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) last posted its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The firm had revenue of $736.80 million during the quarter, compared to analysts’ expectations of $726.90 million. During the same quarter last year, the company posted $0.23 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that MRC Global will post 0.86 earnings per share for the current fiscal year.

MRC Global announced that its board has approved a share buyback plan on Friday, January 3rd that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the oil and gas company to buy up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of MRC Global

Several hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank acquired a new stake in MRC Global during the 4th quarter worth approximately $34,000. Sterling Capital Management LLC raised its holdings in shares of MRC Global by 821.2% in the fourth quarter. Sterling Capital Management LLC now owns 2,699 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 2,406 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of MRC Global in the fourth quarter valued at approximately $56,000. Quantinno Capital Management LP bought a new stake in shares of MRC Global in the fourth quarter worth $129,000. Finally, Longboard Asset Management LP acquired a new position in MRC Global during the fourth quarter worth $134,000. Institutional investors and hedge funds 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.