Zacks Investment Research lowered shares of Oceaneering International, Inc. (NYSE:OII) from a hold rating to a sell rating in a report issued on Wednesday.
According to Zacks, “OCEANEERING INTERNATIONAL, INC. is an advanced applied technology company that provides engineered services and hardware to customers who operate in marine, space and other harsh environments. The company supplies a comprehensive range of integrated technical services to a wide array of industries and is one of the world’s largest underwater services contractors. “
A number of other equities analysts have also issued reports on OII. Piper Jaffray Companies lowered shares of Oceaneering International from an overweight rating to a neutral rating in a research report on Friday, October 27th. Citigroup Inc reduced their price target on shares of Oceaneering International from $25.00 to $20.00 and set a neutral rating for the company in a research report on Monday, October 30th. ValuEngine lowered shares of Oceaneering International from a hold rating to a sell rating in a research report on Thursday, October 26th. Scotiabank set a $37.00 price target on shares of Oceaneering International and gave the stock a buy rating in a research report on Friday, October 27th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Oceaneering International from a buy rating to a neutral rating and set a $19.50 price target for the company. in a research report on Friday, October 27th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. Oceaneering International currently has an average rating of Hold and a consensus target price of $24.84.
Oceaneering International (OII) opened at $20.80 on Wednesday. The stock has a market capitalization of $1.99 billion, a PE ratio of 673.33 and a beta of 1.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.06 and a current ratio of 2.67.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $476.12 million for the quarter, compared to analysts’ expectations of $511.14 million. During the same period in the prior year, the business posted $0.17 earnings per share. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. analysts anticipate that Oceaneering International will post -0.07 EPS for the current year.
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In related news, VP W Cardon Gerner sold 2,000 shares of Oceaneering International stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $25.76, for a total value of $51,520.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.91% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in OII. UBS Asset Management Americas Inc. grew its stake in Oceaneering International by 28.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 86,674 shares of the oil and gas company’s stock valued at $2,347,000 after acquiring an additional 18,974 shares during the period. OppenheimerFunds Inc. grew its stake in Oceaneering International by 29.6% in the 1st quarter. OppenheimerFunds Inc. now owns 21,738 shares of the oil and gas company’s stock valued at $589,000 after acquiring an additional 4,971 shares during the period. Teachers Advisors LLC grew its stake in Oceaneering International by 131.6% in the 1st quarter. Teachers Advisors LLC now owns 967,472 shares of the oil and gas company’s stock valued at $26,199,000 after acquiring an additional 549,786 shares during the period. Legal & General Group Plc grew its stake in Oceaneering International by 47.8% in the 1st quarter. Legal & General Group Plc now owns 115,496 shares of the oil and gas company’s stock valued at $3,126,000 after acquiring an additional 37,359 shares during the period. Finally, BlackRock Inc. grew its stake in Oceaneering International by 10,555.3% in the 1st quarter. BlackRock Inc. now owns 8,513,376 shares of the oil and gas company’s stock valued at $230,542,000 after acquiring an additional 8,433,478 shares during the period. 99.54% of the stock is currently owned by hedge funds and other institutional investors.
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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