MRC Global (NYSE:MRC) Share Price Passes Above Two Hundred Day Moving Average of $11.19

Shares of MRC Global Inc. (NYSE:MRC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.19 and traded as high as $11.71. MRC Global shares last traded at $11.71, with a volume of 983,797 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRC. Susquehanna upped their price target on MRC Global from $13.00 to $15.00 and gave the stock a “positive” rating in a research note on Monday, April 8th. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of MRC Global in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $15.33.

MRC Global Trading Up 0.4 %

The stock has a market capitalization of $988.21 million, a PE ratio of 11.26 and a beta of 2.01. The firm has a 50 day moving average price of $12.10 and a 200 day moving average price of $11.19. The company has a quick ratio of 0.76, a current ratio of 1.48 and a debt-to-equity ratio of 0.02.

MRC Global (NYSE:MRC) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $810.52 million. MRC Global had a return on equity of 26.92% and a net margin of 3.34%. MRC Global’s revenue was down 11.6% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. Equities analysts expect that MRC Global Inc. will post 0.99 EPS for the current fiscal year.

Institutional Trading of MRC Global

A number of institutional investors and hedge funds have recently modified their holdings of MRC. Engine Capital Management LP grew its holdings in MRC Global by 30.0% during the fourth quarter. Engine Capital Management LP now owns 3,866,886 shares of the oil and gas company’s stock valued at $42,574,000 after purchasing an additional 891,454 shares during the period. Wellington Management Group LLP grew its holdings in MRC Global by 22.9% during the third quarter. Wellington Management Group LLP now owns 3,010,991 shares of the oil and gas company’s stock valued at $30,863,000 after purchasing an additional 561,706 shares during the period. Appian Way Asset Management LP bought a new position in MRC Global during the fourth quarter valued at $4,745,000. American Century Companies Inc. boosted its holdings in shares of MRC Global by 24.9% in the third quarter. American Century Companies Inc. now owns 1,989,178 shares of the oil and gas company’s stock worth $20,389,000 after acquiring an additional 397,145 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in shares of MRC Global by 5.1% in the first quarter. Pzena Investment Management LLC now owns 7,360,439 shares of the oil and gas company’s stock worth $92,521,000 after acquiring an additional 358,580 shares during the period. 94.97% of the stock is owned by hedge funds and other institutional investors.

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.