Oceaneering International, Inc. (NYSE:OII) had its target price reduced by Credit Suisse Group from $23.00 to $20.00 in a research note published on Friday, October 27th. Credit Suisse Group currently has a neutral rating on the oil and gas company’s stock.
Several other equities analysts have also recently weighed in on OII. BidaskClub cut Oceaneering International from a hold rating to a sell rating in a report on Monday, August 14th. Cowen and Company set a $28.00 target price on Oceaneering International and gave the company a hold rating in a research note on Friday, August 4th. Piper Jaffray Companies cut Oceaneering International from an overweight rating to a neutral rating in a research note on Friday, October 27th. ValuEngine upgraded Oceaneering International from a sell rating to a hold rating in a research note on Friday, September 1st. Finally, Barclays PLC assumed coverage on Oceaneering International in a research note on Friday, October 6th. They set an equal weight rating and a $28.00 price objective on the stock. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $24.84.
Shares of Oceaneering International (NYSE:OII) traded down $0.66 during mid-day trading on Friday, reaching $20.68. The company had a trading volume of 1,646,500 shares, compared to its average volume of 1,393,742. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.14 and a current ratio of 2.67. The firm has a market capitalization of $2,032.41, a price-to-earnings ratio of 689.33 and a beta of 1.64. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $32.12.
Oceaneering International (NYSE:OII) last posted 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). Oceaneering International had a positive return on equity of 0.21% and a negative net margin of 0.94%. The company had revenue of $476.12 million for the quarter, compared to analyst estimates of $511.14 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Oceaneering International’s quarterly revenue was down 13.3% compared to the same quarter last year. analysts expect that Oceaneering International will post -0.08 EPS for the current year.
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In related news, Director Paul B. Murphy, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was 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 owns 16,600 shares of the company’s stock, valued at $437,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.91% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OII. Quantbot Technologies LP acquired a new stake in Oceaneering International during the third quarter worth approximately $103,000. Pacad Investment Ltd. grew 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 acquiring an additional 3,700 shares during the period. Meeder Asset Management Inc. grew 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 acquiring an additional 2,865 shares during the period. LS Investment Advisors LLC grew 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 acquiring an additional 1,188 shares during the period. Finally, World Asset Management Inc acquired a new stake in Oceaneering International in the third quarter valued at approximately $201,000. 99.87% of the stock is owned by institutional investors and hedge funds.
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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