McDermott International (MDR) : Traders are bullish on McDermott International (MDR) as it has outperformed the S&P 500 by a wide margin of 1.37% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.82%, 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 2.14% in the last 1 week, and is up 1.16% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 3.46% and the fifty day Moving Average is 5.73%. McDermott International Inc. is up 9.39% in the last three month period. Year-to-Date the stock performance stands at 56.42%.
McDermott International (MDR) stock is expected to deviate a maximum of $1.34 from the average target price of $5.5 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $7 and the most muted being $4.
McDermott International (NYSE:MDR): stock turned positive on Friday. Though the stock opened at $5.19, the bulls momentum made the stock top out at $5.3 level for the day. The stock recorded a low of $5.16 and closed the trading day at $5.24, in the green by 1.35%. The total traded volume for the day was 2,005,422. The stock had closed at $5.17 in the previous days trading.
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.