Posted by admin on Jul 26th, 2022

Shares of MRC Global Inc. (NYSE:MRC – Get Rating) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.32 and traded as high as $11.33. MRC Global shares last traded at $11.27, with a volume of 532,795 shares trading hands.

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of MRC Global from $14.00 to $16.00 in a research note on Friday, July 8th. Benchmark assumed coverage on shares of MRC Global in a research report on Thursday, July 7th. They set a “buy” rating and a $14.00 price target for the company. Finally, StockNews.com upgraded shares of MRC Global from a “hold” rating to a “buy” rating in a research report on Wednesday, June 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $13.50.

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.98 and a current ratio of 1.93. The company has a market capitalization of $940.85 million, a price-to-earnings ratio of -49.00 and a beta of 1.98. The stock’s fifty day simple moving average is $10.41 and its two-hundred day simple moving average is $10.32.

MRC Global (NYSE:MRC – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The oil and gas company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. MRC Global had a negative net margin of 0.04% and a positive return on equity of 14.63%. The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $717.48 million. During the same period in the prior year, the company earned ($0.07) EPS. MRC Global’s revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts anticipate that MRC Global Inc. will post 0.88 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of MRC Global by 240.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,907 shares of the oil and gas company’s stock valued at $4,368,000 after purchasing an additional 448,527 shares during the period. B. Riley Asset Management LLC acquired a new position in shares of MRC Global in the 4th quarter valued at about $894,000. Fuller & Thaler Asset Management Inc. increased its holdings in MRC Global by 0.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,374,937 shares of the oil and gas company’s stock worth $30,100,000 after buying an additional 13,029 shares during the last quarter. Wintrust Investments LLC increased its holdings in MRC Global by 133.5% in the fourth quarter. Wintrust Investments LLC now owns 692,960 shares of the oil and gas company’s stock worth $4,768,000 after buying an additional 396,218 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in MRC Global by 16.4% in the fourth quarter. Acadian Asset Management LLC now owns 992,436 shares of the oil and gas company’s stock worth $6,821,000 after buying an additional 139,794 shares during the last quarter. 94.09% of the stock is owned by hedge funds and other institutional investors.

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services to the energy, industrial, and gas utility end-markets in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components, as well as valve modification services; and measurement, steam, and instrumentation products.

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