Oceaneering International, Inc. (NYSE:OII) – Equities researchers at SunTrust Banks reduced their Q2 2018 earnings estimates for Oceaneering International in a research report issued on Friday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will earn $0.02 per share for the quarter, down from their previous estimate of $0.04. SunTrust Banks also issued estimates for Oceaneering International’s Q3 2018 earnings at $0.07 EPS and Q4 2018 earnings at $0.04 EPS.
Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $515.04 million for the quarter, compared to the consensus estimate of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. Oceaneering International’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS.
Several other equities research analysts also recently commented on OII. Jefferies Group LLC restated a “hold” rating and issued a $25.00 target price on shares of Oceaneering International in a research note on Tuesday, April 11th. Zacks Investment Research downgraded shares of Oceaneering International from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Royal Bank Of Canada restated a “sell” rating and issued a $30.00 target price on shares of Oceaneering International in a research note on Friday, April 21st. Scotiabank restated a “buy” rating and issued a $37.00 target price on shares of Oceaneering International in a research note on Friday, April 28th. Finally, Wolfe Research downgraded shares of Oceaneering International from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.50.
Shares of Oceaneering International (NYSE OII) traded down 0.82% during mid-day trading on Monday, reaching $25.30. 231,558 shares of the company traded hands. The stock’s market capitalization is $2.50 billion. Oceaneering International has a 52-week low of $20.74 and a 52-week high of $32.12. The stock’s 50 day moving average is $23.62 and its 200 day moving average is $25.85.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.35%. Oceaneering International’s dividend payout ratio (DPR) is -206.90%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Viking Fund Management LLC bought a new position in shares of Oceaneering International during the first quarter valued at about $2,166,000. Dean Investment Associates LLC increased its position in Oceaneering International by 8.1% in the first quarter. Dean Investment Associates LLC now owns 179,813 shares of the oil and gas company’s stock worth $4,869,000 after buying an additional 13,525 shares during the last quarter. Capstone Asset Management Co. increased its position in Oceaneering International by 6.5% in the first quarter. Capstone Asset Management Co. now owns 11,558 shares of the oil and gas company’s stock worth $313,000 after buying an additional 710 shares during the last quarter. Oxford Asset Management acquired a new position in Oceaneering International during the first quarter worth about $1,148,000. Finally, Mason Street Advisors LLC increased its position in Oceaneering International by 1.2% in the first quarter. Mason Street Advisors LLC now owns 46,331 shares of the oil and gas company’s stock worth $1,255,000 after buying an additional 562 shares during the last quarter. Institutional investors and hedge funds own 98.61% 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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