JPMorgan Chase & Co. Purchases 655,455 Shares of MRC Global Inc. (NYSE:MRC)

JPMorgan Chase & Co. raised its position in MRC Global Inc. (NYSE:MRC - Free Report) by 419.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 811,787 shares of the oil and gas company's stock after acquiring an additional 655,455 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.95% of MRC Global worth $10,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MRC. Longboard Asset Management LP acquired a new stake in MRC Global in the 4th quarter valued at about $134,000. EP Wealth Advisors LLC bought a new stake in MRC Global in the third quarter valued at approximately $167,000. Ieq Capital LLC acquired a new stake in shares of MRC Global in the fourth quarter valued at approximately $187,000. KLP Kapitalforvaltning AS bought a new position in shares of MRC Global during the 4th quarter worth approximately $206,000. Finally, Proficio Capital Partners LLC bought a new position in shares of MRC Global during the 4th quarter worth approximately $233,000. Institutional investors own 94.97% of the company's stock.

MRC Global Stock Performance

NYSE MRC traded up $0.63 on Friday, reaching $10.87. The stock had a trading volume of 885,846 shares, compared to its average volume of 631,249. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11. The company has a market cap of $935.29 million, a P/E ratio of 12.49 and a beta of 1.67. The firm has a fifty day moving average of $11.52 and a two-hundred day moving average of $12.73. MRC Global Inc. has a 1-year low of $9.23 and a 1-year high of $15.41.

MRC Global (NYSE:MRC - Get Free Report) last released its quarterly earnings results on Friday, March 14th. The oil and gas company reported $0.08 EPS 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 business had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. During the same period in the prior year, the company posted $0.23 earnings per share. MRC Global's revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global declared that its Board of Directors has approved a stock buyback program on Friday, January 3rd that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 11% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MRC shares. StockNews.com cut MRC Global from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Stifel Nicolaus dropped their price objective on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Susquehanna reduced their target price on shares of MRC Global from $15.00 to $13.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Loop Capital lowered their price target on shares of MRC Global from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th.

MRC Global 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.