Sippican Capital Advisors buys $1,649,133 stake in McDermott International (MDR)

McDermott International (MDR) : Sippican Capital Advisors scooped up 3,185 additional shares in McDermott International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 320,843 shares of McDermott International which is valued at $1,649,133.McDermott International makes up approximately 1.88% of Sippican Capital Advisors’s portfolio.

Other Hedge Funds, Including , Mraz Amerine Associates reduced its stake in MDR by selling 16,900 shares or 40.72% in the most recent quarter. The Hedge Fund company now holds 24,600 shares of MDR which is valued at $126,444. McDermott International makes up approx 0.04% of Mraz Amerine Associates’s portfolio. Financial Architects Inc added MDR to its portfolio by purchasing 7,712 company shares during the most recent quarter which is valued at $39,640. McDermott International makes up approx 0.01% of Financial Architects Inc’s portfolio. Simplex Trading sold out all of its stake in MDR during the most recent quarter. The investment firm sold 2,255 shares of MDR which is valued $11,252.

McDermott International opened for trading at $5.07 and hit $5.2 on the upside on Friday, eventually ending the session at $5.18, with a gain of 1.17% or 0.06 points. The heightened volatility saw the trading volume jump to 23,69,565 shares. Company has a market cap of $1,246 M.

On the company’s financial health, McDermott International reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.02. The company had revenue of $729.00 million for the quarter, compared to analysts expectations of $700.70 million. The company’s revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Many Wall Street Analysts have commented on McDermott International. Company shares were Reiterated by Imperial Capital on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 7 from a previous price target of $6 .McDermott International was Initiated by Sterne Agee CRT to “Neutral” on May 24, 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 Company’s 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.

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