Zacks Investment Research upgraded shares of Oceaneering International, Inc. (NYSE:OII) from a sell rating to a hold rating in a report published on Thursday morning.
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. “
OII has been the topic of a number of other reports. Barclays PLC initiated coverage on shares of Oceaneering International in a research note on Friday, October 6th. They issued an equal weight rating and a $28.00 price objective on the stock. Piper Jaffray Companies reissued an overweight rating and issued a $28.00 price objective (up from $26.00) on shares of Oceaneering International in a research note on Tuesday, October 3rd. Royal Bank Of Canada reissued a sell rating and issued a $25.00 price objective on shares of Oceaneering International in a research note on Thursday, July 20th. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the company a buy rating in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co lowered their price objective on shares of Oceaneering International from $22.00 to $21.00 and set an underweight rating on the stock in a research note on Tuesday, September 12th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $24.84.
Shares of Oceaneering International (NYSE OII) traded down $0.66 during midday trading on Thursday, reaching $20.68. 1,646,500 shares of the company were exchanged, compared to its average volume of 2,323,342. The firm has a market cap of $2,032.41, a PE ratio of 689.33 and a beta of 1.64. Oceaneering International has a 12-month low of $17.11 and a 12-month high of $32.12. 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 data 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). The business had revenue of $476.12 million during the quarter, compared to analyst estimates of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. Oceaneering International’s revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. analysts predict that Oceaneering International will post -0.08 earnings per share for the current year.
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In other news, Director Paul B. Murphy, Jr. sold 2,000 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the transaction, the director now directly owns 16,600 shares in the company, valued at approximately $437,244. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.91% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Oceaneering International during the 3rd quarter worth about $103,000. Pacad Investment Ltd. lifted its holdings in shares of Oceaneering International by 231.3% during the 2nd quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 3,700 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Oceaneering International by 121.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 2,865 shares during the period. LS Investment Advisors LLC raised its holdings in Oceaneering International by 18.4% in the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after buying an additional 1,188 shares during the period. Finally, World Asset Management Inc purchased a new position in Oceaneering International in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 99.64% of the company’s stock.
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).
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