Oceaneering International, Inc. (OII) Earns Buy Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their buy rating on shares of Oceaneering International, Inc. (NYSE:OII) in a report issued on Monday morning. They currently have a $27.00 target price on the oil and gas company’s stock.

A number of other analysts have also commented on OII. Piper Jaffray Companies lowered Oceaneering International from an overweight rating to a neutral rating in a research note on Friday, October 27th. Citigroup Inc. cut their price target on Oceaneering International from $25.00 to $20.00 and set a neutral rating on the stock in a research note on Monday. ValuEngine lowered Oceaneering International from a hold rating to a sell rating in a research note on Thursday, October 26th. Scotiabank set a $37.00 price target on Oceaneering International and gave the company a buy rating in a research note on Friday, October 27th. Finally, Goldman Sachs Group, Inc. (The) lowered Oceaneering International from a buy rating to a neutral rating and set a $19.50 price target on the stock. in a research note on Friday, October 27th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. Oceaneering International has a consensus rating of Hold and an average price target of $24.84.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $476.12 million for the quarter, compared to analyst estimates of $511.14 million. During the same period in the previous year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year.

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In other Oceaneering International news, VP W Cardon Gerner sold 2,000 shares of Oceaneering International stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $25.76, for a total value of $51,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.91% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Shell Asset Management Co. increased its holdings in Oceaneering International by 109.1% in the third quarter. Shell Asset Management Co. now owns 53,055 shares of the oil and gas company’s stock worth $3,458,000 after purchasing an additional 27,684 shares in the last quarter. SG Americas Securities LLC increased its holdings in Oceaneering International by 48.3% in the second quarter. SG Americas Securities LLC now owns 43,819 shares of the oil and gas company’s stock worth $1,001,000 after purchasing an additional 14,270 shares in the last quarter. Personal Capital Advisors Corp increased its holdings in Oceaneering International by 14.4% in the third quarter. Personal Capital Advisors Corp now owns 93,647 shares of the oil and gas company’s stock worth $2,460,000 after purchasing an additional 11,818 shares in the last quarter. Schroder Investment Management Group increased its holdings in Oceaneering International by 10.0% in the second quarter. Schroder Investment Management Group now owns 425,177 shares of the oil and gas company’s stock worth $9,635,000 after purchasing an additional 38,535 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in 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 worth $193,226,000 after purchasing an additional 81,313 shares in the last quarter. Institutional investors and hedge funds own 99.54% 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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