MRC Global logo BlackRock Fund Advisors cut its stake in shares of MRC Global Inc. (NYSE:MRC) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission.
... most of the quarter. That had a big impact on oilfield activity levels and the need for the equipment that MRC Global (NYSE:MRC) distributes to the sector, causing a big slide in its financial results during the quarter.
Despite this significant drop in revenue, MRC Global still reported a profit of $10 million, or $0.10 per share -- though that's well below the $50.1 million, or $0.49 per share, it earned in the year-ago quarter.
Pacific Crest downgraded MRC Global Inc (NYSE:MRC) from Over-weight to Sector Weight. The company reported its quarter-three fiscal year (3QFY15) earnings call, which resulted in a 15.23% increase in the stock to $14.60.