MRC Global (NYSE:MRC) Price Target Lowered to $17.00 at Loop Capital

MRC Global (NYSE:MRC - Free Report) had its price objective reduced by Loop Capital from $18.00 to $17.00 in a research report released on Tuesday,Benzinga reports. Loop Capital currently has a buy rating on the oil and gas company's stock.

Other equities analysts have also issued reports about the company. StockNews.com lowered MRC Global from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Stifel Nicolaus lowered their price objective 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, March 17th. Finally, Susquehanna cut their price objective on shares of MRC Global from $17.00 to $15.00 and set a "positive" rating on the stock in a research report on Monday, March 17th.

MRC Global Trading Down 2.8 %

MRC traded down $0.35 during mid-day trading on Tuesday, hitting $11.95. The stock had a trading volume of 2,233,179 shares, compared to its average volume of 579,891. The stock's fifty day simple moving average is $13.06 and its 200-day simple moving average is $12.97. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 13.73 and a beta of 1.96. MRC Global has a 1-year low of $9.42 and a 1-year high of $15.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.11.

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MRC Global (NYSE:MRC - Get Free Report) last issued its quarterly earnings data on Friday, March 14th. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. MRC Global had a return on equity of 19.58% and a net margin of 3.09%. The business had revenue of $736.80 million for the quarter, compared to the consensus estimate of $726.90 million. During the same quarter last year, the business posted $0.23 EPS. The firm's revenue was down 10.3% compared to the same quarter last year. As a group, research analysts forecast that MRC Global will post 0.86 EPS for the current fiscal year.

MRC Global announced that its board has initiated a share buyback plan on Friday, January 3rd that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On MRC Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in shares of MRC Global by 2.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,369,515 shares of the oil and gas company's stock valued at $17,448,000 after acquiring an additional 26,619 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in MRC Global in the third quarter valued at approximately $329,000. Empowered Funds LLC acquired a new stake in shares of MRC Global in the 3rd quarter valued at approximately $3,607,000. Pzena Investment Management LLC lifted its stake in MRC Global by 0.4% in the third 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 acquiring an additional 20,407 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in MRC Global during the third quarter worth about $193,000. 94.97% of the stock is currently owned by institutional investors and hedge funds.

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.