JPMorgan Chase & Co. Has $1.99 Million Holdings in MRC Global Inc. (NYSE:MRC)

JPMorgan Chase & Co. boosted its holdings in shares of MRC Global Inc. (NYSE:MRC - Free Report) by 12.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,332 shares of the oil and gas company's stock after purchasing an additional 17,609 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of MRC Global worth $1,992,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MRC. Canada Pension Plan Investment Board bought a new position in shares of MRC Global during the 2nd quarter worth about $56,000. Quarry LP grew its stake in shares of MRC Global by 162.8% in the 2nd quarter. Quarry LP now owns 7,333 shares of the oil and gas company's stock valued at $95,000 after purchasing an additional 4,543 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in shares of MRC Global in the 2nd quarter worth approximately $145,000. MQS Management LLC acquired a new stake in MRC Global in the 3rd quarter valued at $154,000. Finally, EP Wealth Advisors LLC bought a new stake in MRC Global in the third quarter valued at $167,000. 94.97% of the stock is owned by institutional investors.

MRC Global Price Performance

NYSE MRC traded up $0.36 on Thursday, hitting $15.03. 347,797 shares of the company were exchanged, compared to its average volume of 605,039. The company has a current ratio of 1.99, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.28 billion, a P/E ratio of 17.25 and a beta of 1.97. MRC Global Inc. has a 1-year low of $10.19 and a 1-year high of $15.09. The firm has a 50 day moving average of $13.48 and a two-hundred day moving average of $13.10.

MRC Global (NYSE:MRC - Get Free Report) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company had revenue of $797.00 million for the quarter, compared to analyst estimates of $794.17 million. During the same period in the prior year, the business earned $0.32 earnings per share. MRC Global's quarterly revenue was down 10.2% on a year-over-year basis. On average, equities analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global declared that its Board of Directors has approved a share repurchase 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MRC shares. Susquehanna upped their target price on shares of MRC Global from $16.00 to $17.00 and gave the stock a "positive" rating in a report on Thursday, November 7th. StockNews.com cut shares of MRC Global from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 9th. Finally, Stifel Nicolaus boosted their target price 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 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.