As of March 31, 2012, McDermott reported total assets of approximately $3.1 billion. Included in this amount was $899.5 million of cash and cash equivalents, restricted cash and investments.This helps explain why company insiders want to own shares of MDR. Two institutions are also big believers in the prospects for this company. Artisan Partners Limited Partnership and FMR (a.k.a. Fidelity Investments) each own close to 6% of the outstanding shares of MDR as of March 30, for a combined investment of almost $357 million dollars. MDR has a market cap of only $2.14 billion, so it isn't unreasonable to imagine a much larger company acquiring them to expand their international operations. Two names that come to mind are Schlumberger (SLB) and Halliburton (HAL).
Net working capital, calculated as current assets less current liabilities, was $605.1 million. Additionally, total equity was almost $1.8 billion, or approximately 58% of total assets, with total debt of $92.2 million.
Lit Fuse: Insider Buying in Energy
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