Oceaneering International (OII) Given Sector Perform Rating at Scotiabank

Scotiabank reaffirmed their sector perform rating on shares of Oceaneering International (NYSE:OII) in a report published on Friday.

Other analysts also recently issued reports about the company. Cowen set a $27.00 price target on Oceaneering International and gave the stock a hold rating in a research report on Thursday. Howard Weil downgraded Oceaneering International from a sector outperform rating to a sector perform rating in a research report on Friday. Scotia Howard Weill restated a sector perform rating on shares of Oceaneering International in a research report on Friday. Wells Fargo & Co restated an underperform rating on shares of Oceaneering International in a research report on Friday. Finally, ValuEngine downgraded Oceaneering International from a hold rating to a sell rating in a research report on Thursday, October 26th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $24.10.

Shares of Oceaneering International (OII) traded down $0.62 on Friday, reaching $22.44. The company had a trading volume of 1,452,055 shares, compared to its average volume of 1,179,752. The company has a market capitalization of $2,266.31, a P/E ratio of -118.11 and a beta of 1.63. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $29.53. 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 issued 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). The company had revenue of $476.12 million during the quarter, compared to the consensus estimate of $511.14 million. Oceaneering International had a positive return on equity of 0.21% and a negative net margin of 0.94%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. sell-side analysts anticipate that Oceaneering International will post -0.09 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in OII. Schwab Charles Investment Management Inc. increased its stake in Oceaneering International by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 456,564 shares of the oil and gas company’s stock worth $10,428,000 after purchasing an additional 7,032 shares during the period. Legal & General Group Plc increased its stake in Oceaneering International by 10.7% in the second quarter. Legal & General Group Plc now owns 127,910 shares of the oil and gas company’s stock worth $2,922,000 after purchasing an additional 12,414 shares during the period. Prudential Financial Inc. increased its stake in Oceaneering International by 1.4% in the second quarter. Prudential Financial Inc. now owns 60,526 shares of the oil and gas company’s stock worth $1,382,000 after purchasing an additional 860 shares during the period. Utah Retirement Systems increased its stake in Oceaneering International by 1.1% in the second quarter. Utah Retirement Systems now owns 17,982 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 200 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Oceaneering International by 7.1% in the second quarter. Principal Financial Group Inc. now owns 468,030 shares of the oil and gas company’s stock worth $10,690,000 after purchasing an additional 30,943 shares during the period. Institutional investors and hedge funds own 99.69% of the company’s stock.

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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).

Analyst Recommendations for Oceaneering International (NYSE:OII)

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