Oceaneering International, Inc. (NYSE:OII) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 9,761,634 shares, a decline of 28.6% from the October 13th total of 13,666,269 shares. Currently, 10.0% of the shares of the company are short sold. Based on an average daily volume of 2,712,923 shares, the short-interest ratio is presently 3.6 days.
Oceaneering International (NYSE OII) opened at $18.48 on Tuesday. Oceaneering International has a 12-month low of $17.11 and a 12-month high of $32.12. The stock has a market capitalization of $1,875.16, a P/E ratio of 636.00 and a beta of 1.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.14 and a current ratio of 2.67.
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). Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The business had revenue of $476.12 million for the quarter, compared to analysts’ expectations of $511.14 million. During the same quarter last year, the firm earned $0.17 EPS. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. equities research analysts forecast that Oceaneering International will post -0.09 EPS for the current fiscal year.
In other news, Director Paul B. Murphy, Jr. sold 2,000 shares of Oceaneering International stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the sale, the director now directly owns 16,600 shares of the company’s stock, valued at $437,244. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Oceaneering International by 1.0% in the second quarter. Vanguard Group Inc. now owns 8,459,942 shares of the oil and gas company’s stock valued at $193,226,000 after purchasing an additional 81,313 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Oceaneering International by 17.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,936,686 shares of the oil and gas company’s stock valued at $129,688,000 after purchasing an additional 731,348 shares during the period. Eaton Vance Management boosted its holdings in shares of Oceaneering International by 20.4% in the second quarter. Eaton Vance Management now owns 3,068,529 shares of the oil and gas company’s stock valued at $70,085,000 after purchasing an additional 519,289 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Oceaneering International by 3.8% in the second quarter. Lazard Asset Management LLC now owns 2,233,521 shares of the oil and gas company’s stock valued at $51,013,000 after purchasing an additional 80,740 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Oceaneering International by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 2,231,141 shares of the oil and gas company’s stock valued at $58,612,000 after purchasing an additional 41,844 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.
Several equities research analysts have recently issued reports on OII shares. Scotiabank set a $37.00 target price on Oceaneering International and gave the stock a “buy” rating in a report on Friday, July 28th. Piper Jaffray Companies set a $26.00 target price on Oceaneering International and gave the stock a “buy” rating in a report on Sunday, July 30th. Cowen and Company set a $28.00 target price on Oceaneering International and gave the stock a “hold” rating in a report on Friday, August 4th. BidaskClub cut Oceaneering International from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Royal Bank Of Canada raised Oceaneering International from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $25.00 to $33.00 in a report on Friday, August 25th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.84.
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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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