Oppenheimer Asset Management Inc. Invests $329,000 in MRC Global Inc. (NYSE:MRC)

Oppenheimer Asset Management Inc. acquired a new stake in MRC Global Inc. (NYSE:MRC) during the third quarter, Holdings Channel.com reports. The firm acquired 25,824 shares of the oil and gas company’s stock, valued at approximately $329,000.

Several other institutional investors have also recently bought and sold shares of MRC. Russell Investments Group Ltd. increased its stake in MRC Global by 13.5% in the first quarter. Russell Investments Group Ltd. now owns 163,006 shares of the oil and gas company’s stock valued at $2,049,000 after acquiring an additional 19,369 shares during the period. ProShare Advisors LLC boosted its stake in shares of MRC Global by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 15,083 shares of the oil and gas company’s stock valued at $190,000 after purchasing an additional 1,186 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of MRC Global by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,179,840 shares of the oil and gas company’s stock worth $115,391,000 after purchasing an additional 175,865 shares during the last quarter. Acadian Asset Management LLC bought a new position in MRC Global during the 1st quarter worth approximately $963,000. Finally, Quadrature Capital Ltd acquired a new stake in MRC Global during the 1st quarter worth $218,000. Institutional investors own 94.97% of the company’s stock.

MRC Global Stock Up 3.4 %

Shares of NYSE MRC opened at $13.76 on Thursday. MRC Global Inc. has a 12-month low of $9.77 and a 12-month high of $14.91. The firm has a market cap of $1.17 billion, a PE ratio of 15.82 and a beta of 1.97. The company’s fifty day simple moving average is $12.74 and its 200 day simple moving average is $12.89. The company has a quick ratio of 1.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.15.

MRC Global (NYSE:MRC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $797.00 million for the quarter, compared to analysts’ expectations of $794.17 million. MRC Global had a net margin of 3.09% and a return on equity of 19.58%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. As a group, sell-side analysts forecast that MRC Global Inc. will post 0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MRC. Stifel Nicolaus raised their price target on shares of MRC Global from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Susquehanna raised their price objective on shares of MRC Global from $16.00 to $17.00 and gave the stock a “positive” rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered shares of MRC Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 9th.

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.