MRC Global (MRC) Extends PVF Deal with Chevron Corporation
Premium oil & gas equipment & services company, MRC Global Inc. MRC recently declared that it has extended its global master deal with Chevron Corporation CVX by seven years. The deal is likely to boost the company’s ongoing organic growth trajectory, moving ahead.
Over the last one year, shares of this Zacks Rank #2 (Buy) stock yielded a return of 16.98%, outperforming 5.78% growth recorded by the Zacks categorized Steel - Pipe and Tube industry.
Notably, the attractiveness of this stock as a current investment choice is further accentuated by its favorable Value Growth and Momentum Style Score ‘B’.
Inside the Headlines
Per the extended deal, MRC Global would provide its pipe, valve and fitting (PVF) services and products in Chevron Corporation's worldwide projects. Financial terms of the deal remain undisclosed.
MRC Global has a long-standing relationship with Chevron Corporation. The company started supporting Chevron Corporation in 1995 at its Richmond, CA facility. At present, MRC Global provides services in almost all the midstream, upstream, chemical and refining sectors of Chevron Corporation.
Through such deals, MRC Global intends to extend the supply chain network of its clients, across the globe.
Other Stocks to Consider
Other top-ranked stocks in the industry are listed below:
Caterpillar Inc. CAT delivered an average positive earnings surprise of 40.25% over the trailing four quarters and currently boasts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Applied Industrial Technologies, Inc. AIT, which sports a Zacks Rank #1 at present, pulled off an average positive earnings surprise of 9.78% over the last four quarters.
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