Oceaneering International (NYSE:OII) has been given a $27.00 target price by stock analysts at Cowen in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Cowen’s price objective would suggest a potential upside of 20.32% from the company’s previous close.
A number of other brokerages also recently weighed in on OII. Deutsche Bank began coverage on shares of Oceaneering International in a research note on Tuesday, October 10th. They set a “hold” rating and a $28.00 target price for the company. Barclays began coverage on shares of Oceaneering International in a research note on Friday, October 6th. They set an “equal weight” rating and a $28.00 target price for the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $28.00 target price (up previously from $26.00) on shares of Oceaneering International in a research note on Tuesday, October 3rd. Jefferies Group downgraded shares of Oceaneering International from a “hold” rating to an “underperform” rating and set a $18.00 target price for the company. in a research note on Thursday, January 4th. Finally, Zacks Investment Research raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.10.
Oceaneering International (NYSE OII) traded down $0.62 during mid-day trading on Thursday, reaching $22.44. 1,452,000 shares of the company were exchanged, compared to its average volume of 1,280,000. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $29.53. The company has a market capitalization of $2,210.00, a P/E ratio of -118.11 and a beta of 1.62. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53.
Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $511.14 million. During the same period in the previous year, the company earned $0.17 earnings per share. Oceaneering International’s quarterly revenue was down 13.3% on a year-over-year basis. equities research analysts anticipate that Oceaneering International will post -0.09 earnings per share for the current year.
Several large investors have recently bought and sold shares of OII. Dimensional Fund Advisors LP grew its holdings in shares of Oceaneering International by 39.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,205,338 shares of the oil and gas company’s stock valued at $96,049,000 after buying an additional 1,190,224 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Oceaneering International during the second quarter valued at approximately $22,929,000. Balyasny Asset Management LLC grew its holdings in shares of Oceaneering International by 2,750.8% during the second quarter. Balyasny Asset Management LLC now owns 843,843 shares of the oil and gas company’s stock valued at $19,273,000 after buying an additional 814,243 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Oceaneering International by 169.8% during the second quarter. Royal Bank of Canada now owns 289,277 shares of the oil and gas company’s stock valued at $6,606,000 after buying an additional 703,599 shares during the last quarter. Finally, Key Group Holdings Cayman LTD. purchased a new stake in shares of Oceaneering International during the second quarter valued at approximately $11,484,000.
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About Oceaneering International
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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