Oceaneering International, Inc. (NYSE:OII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, November 1st.
According to Zacks, “OCEANEERING INTERNATIONAL, INC. is an advanced applied technology company that provides engineered services and hardware to customers who operate in marine, space and other harsh environments. The company supplies a comprehensive range of integrated technical services to a wide array of industries and is one of the world’s largest underwater services contractors. “
A number of other brokerages also recently commented on OII. Cowen and Company set a $28.00 price objective on shares of Oceaneering International and gave the stock a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies set a $26.00 price objective on shares of Oceaneering International and gave the stock a “buy” rating in a research note on Sunday, July 30th. Deutsche Bank AG started coverage on Oceaneering International in a research report on Tuesday, October 10th. They set a “hold” rating and a $28.00 price target on the stock. Scotiabank set a $37.00 price target on Oceaneering International and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Barclays PLC started coverage on Oceaneering International in a research report on Friday, October 6th. They issued an “equal weight” rating and a $28.00 target price on the stock. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.84.
Shares of Oceaneering International (OII) traded down $0.66 during trading hours on Wednesday, hitting $20.68. The company’s stock had a trading volume of 1,646,500 shares, compared to its average volume of 1,393,742. Oceaneering International has a fifty-two week low of $17.11 and a fifty-two week high of $32.12. The stock has a market capitalization of $2,032.41, a price-to-earnings ratio of 689.33 and a beta of 1.64. The company has a quick ratio of 2.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.53.
Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The business had revenue of $476.12 million for the quarter, compared to analysts’ expectations of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. analysts expect that Oceaneering International will post -0.08 earnings per share for the current fiscal year.
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In other news, Director Paul B. Murphy, Jr. sold 2,000 shares of Oceaneering International stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the sale, the director now directly owns 16,600 shares of the company’s stock, valued at approximately $437,244. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.91% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Oceaneering International during the 3rd quarter worth $103,000. Meeder Asset Management Inc. increased its stake in Oceaneering International by 121.2% in the third quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 2,865 shares during the period. Pacad Investment Ltd. increased its stake in Oceaneering International by 231.3% in the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 3,700 shares during the period. LS Investment Advisors LLC increased its stake in Oceaneering International by 18.4% in the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after purchasing an additional 1,188 shares during the period. Finally, World Asset Management Inc acquired a new position in Oceaneering International in the third quarter valued at $201,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.
Oceaneering International Company Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
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