Oceaneering International (OII) Coverage Initiated at Tudor Pickering

Tudor Pickering started coverage on shares of Oceaneering International (NYSE:OII) in a research note released on Thursday. The brokerage issued a hold rating on the oil and gas company’s stock.

OII has been the subject of a number of other research reports. Zacks Investment Research downgraded Oceaneering International from a hold rating to a sell rating in a research report on Wednesday, January 4th. TheStreet downgraded Oceaneering International from a hold rating to a sell rating in a research report on Tuesday, November 29th. Scotiabank set a $37.00 price objective on Oceaneering International and gave the company a buy rating in a research report on Saturday, February 11th. Jefferies Group LLC lifted their price objective on Oceaneering International to $25.00 and gave the company a hold rating in a research report on Friday, February 10th. Finally, Seaport Global Securities downgraded Oceaneering International from an accumulate rating to a neutral rating and lowered their price objective for the company from $29.00 to $27.00 in a research report on Thursday, December 1st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Oceaneering International presently has a consensus rating of Hold and an average price target of $30.75.

Oceaneering International (NYSE:OII) traded down 0.23% on Thursday, hitting $26.15. 780,073 shares of the company were exchanged. The stock has a market capitalization of $2.56 billion, a P/E ratio of 104.60 and a beta of 1.65. Oceaneering International has a 52 week low of $22.47 and a 52 week high of $36.92. The company has a 50 day moving average price of $26.53 and a 200-day moving average price of $27.12.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, February 8th. The oil and gas company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. Oceaneering International had a return on equity of 4.76% and a net margin of 1.08%. The company earned $488 million during the quarter, compared to analysts’ expectations of $504.37 million. During the same period in the previous year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was down 32.4% compared to the same quarter last year. On average, equities analysts expect that Oceaneering International will post ($0.21) earnings per share for the current fiscal year.

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In other news, Director Paul B. Murphy, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $24.68, for a total transaction of $98,720.00. Following the completion of the transaction, the director now directly owns 18,901 shares of the company’s stock, valued at $466,476.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of OII. State Treasurer State of Michigan raised its position in shares of Oceaneering International by 0.3% in the third quarter. State Treasurer State of Michigan now owns 39,500 shares of the oil and gas company’s stock worth $1,087,000 after buying an additional 100 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Oceaneering International by 7.1% in the third quarter. LS Investment Advisors LLC now owns 6,257 shares of the oil and gas company’s stock worth $172,000 after buying an additional 413 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Oceaneering International by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the oil and gas company’s stock worth $672,000 after buying an additional 600 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Oceaneering International by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 44,020 shares of the oil and gas company’s stock worth $1,211,000 after buying an additional 620 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Oceaneering International by 9.2% in the third quarter. Pacer Advisors Inc. now owns 7,521 shares of the oil and gas company’s stock worth $207,000 after buying an additional 636 shares during the last quarter. 99.96% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deep water applications. The Company’s business segments include services and products provided to the oil and gas industry (Oilfield), and all other services and products (Advanced Technologies).

5 Day Chart for NYSE:OII

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