Investment Management Of Virginia Lowers stake in McDermott International (MDR)

McDermott International (MDR) : Investment Management Of Virginia reduced its stake in McDermott International by 1.29% during the most recent quarter end. The investment management company now holds a total of 2,732,685 shares of McDermott International which is valued at $14,428,577 after selling 35,845 shares in McDermott International , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.McDermott International makes up approximately 3.65% of Investment Management Of Virginia’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in MDR by selling 33,572 shares or 82.36% in the most recent quarter. The Hedge Fund company now holds 7,191 shares of MDR which is valued at $37,968.Atria Investments reduced its stake in MDR by selling 2,850 shares or 12.86% in the most recent quarter. The Hedge Fund company now holds 19,319 shares of MDR which is valued at $101,232. McDermott International makes up approx 0.01% of Atria Investments’s portfolio.Creative Planning reduced its stake in MDR by selling 44,018 shares or 51.43% in the most recent quarter. The Hedge Fund company now holds 41,564 shares of MDR which is valued at $217,795.

McDermott International closed down -0.19 points or -3.50% at $5.24 with 27,44,082 shares getting traded on Tuesday. Post opening the session at $5.35, the shares hit an intraday low of $5.115 and an intraday high of $5.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 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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