Wells Fargo & Co Reiterates Underperform Rating for Oceaneering International (OII)

Wells Fargo & Co reaffirmed their underperform rating on shares of Oceaneering International (NYSE:OII) in a research note released on Friday morning, MarketBeat.com reports.

A number of other equities research analysts have also recently weighed in on the company. Capital One Financial cut Oceaneering International from an overweight rating to an equal weight rating in a research note on Thursday, November 16th. Royal Bank of Canada restated a buy rating and set a $27.00 price objective on shares of Oceaneering International in a research note on Monday, October 30th. Tudor Pickering upgraded Oceaneering International from a hold rating to a buy rating in a research note on Monday, November 6th. Cowen set a $21.00 price objective on Oceaneering International and gave the stock a hold rating in a research note on Sunday, October 29th. Finally, Zacks Investment Research upgraded Oceaneering International from a sell rating to a hold rating in a research note on Thursday, November 9th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $24.10.

Shares of Oceaneering International (OII) traded down $0.33 during midday trading on Friday, hitting $22.13. The company had a trading volume of 316,426 shares, compared to its average volume of 1,280,000. The company has a quick ratio of 2.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2,170.00, a PE ratio of -116.47 and a beta of 1.62. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $29.53.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $476.12 million for the quarter, compared to analysts’ expectations of $511.14 million. Oceaneering International had a positive return on equity of 0.21% and a negative net margin of 0.94%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. analysts predict that Oceaneering International will post -0.09 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake 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 valued at $193,226,000 after buying an additional 81,313 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Oceaneering International by 17.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,936,686 shares of the oil and gas company’s stock valued at $129,688,000 after buying an additional 731,348 shares during the last quarter. Lazard Asset Management LLC raised its stake in Oceaneering International by 3.8% in the second quarter. Lazard Asset Management LLC now owns 2,233,521 shares of the oil and gas company’s stock valued at $51,013,000 after buying an additional 80,740 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Oceaneering International by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 2,231,141 shares of the oil and gas company’s stock valued at $58,612,000 after buying an additional 41,844 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Oceaneering International by 11.2% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,568,651 shares of the oil and gas company’s stock valued at $41,208,000 after buying an additional 158,533 shares during the last quarter.

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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).

Analyst Recommendations for Oceaneering International (NYSE:OII)

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