McDermott International (MDR) : Traders are bullish on McDermott International (MDR) as it has outperformed the S&P 500 by a wide margin of 0.23% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.44%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.37% in the last 1 week, and is up 3.6% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.93% and the 50-Day Moving Average is 7.51%. McDermott International Inc. is up 14.1% in the last 3-month period. Year-to-Date the stock performance stands at 54.63%.
McDermott International (NYSE:MDR): stock turned positive on Friday. Though the stock opened at $5.07, the bulls momentum made the stock top out at $5.2 level for the day. The stock recorded a low of $5.05 and closed the trading day at $5.18, in the green by 1.17%. The total traded volume for the day was 2,369,565. The stock had closed at $5.12 in the previous days trading.
Also, Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of McDermott International (NYSE:MDR). Citigroup has a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $6 per share from a prior target of $5. The rating by the firm was issued on July 27, 2016.
McDermott International, Inc. is an engineering, procurement, construction and installation (EPCI) company focused on designing and executing offshore oil and gas projects across the world. The Companys operating segments include Asia Pacific, Americas, Middle East and North Sea and Africa. The Asia Pacific segment serves customers in Australia, Indonesia, Vietnam, Malaysia, Thailand and India. The Americas segment serves customers in the United States, Brazil, Mexico, Trinidad and Africa. The Middle East segment includes its North Sea and Africa operations, which serves customers in Saudi Arabia, Qatar, the United Arab Emirates (U.A.E.), Kuwait, India, Azerbaijan, Russia, the North Sea and Africa. It delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning. Its customers include national, integrated and other oil and gas companies, and it operates in offshore oil and gas producing regions throughout the world.