Oceaneering International, Inc. (OII) Given Overweight Rating at Piper Jaffray Companies
Piper Jaffray Companies reissued their overweight rating on shares of Oceaneering International, Inc. (NYSE:OII) in a research note issued to investors on Tuesday morning. The brokerage currently has a $28.00 target price on the oil and gas company’s stock, up from their previous target price of $26.00.
A number of other equities analysts also recently issued reports on OII. Wolfe Research downgraded Oceaneering International from a market perform rating to an underperform rating in a research note on Tuesday, June 6th. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the stock a buy rating in a research report on Tuesday, June 13th. Jefferies Group LLC reaffirmed a hold rating and issued a $25.00 target price on shares of Oceaneering International in a report on Monday, June 19th. Morgan Stanley downgraded Oceaneering International from an equal weight rating to an underweight rating and reduced their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, June 21st. Finally, Seaport Global Securities lowered shares of Oceaneering International from a neutral rating to a sell rating and reduced their price target for the company from $24.00 to $19.00 in a research report on Wednesday, June 21st. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $28.90.
Oceaneering International (NYSE OII) traded up 0.55% during midday trading on Tuesday, reaching $25.57. 405,916 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $24.41 and its 200 day moving average price is $24.91. The firm’s market cap is $2.51 billion. Oceaneering International has a 1-year low of $20.74 and a 1-year high of $32.12.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $515.04 million for the quarter, compared to analysts’ expectations of $481.86 million. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. Equities research analysts anticipate that Oceaneering International will post ($0.04) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.60 annualized dividend and a dividend yield of 2.36%. Oceaneering International’s payout ratio is -206.90%.
In related news, Director Paul B. Murphy, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the transaction, the director now owns 16,600 shares of the company’s stock, valued at $437,244. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.91% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC raised its position in shares of Oceaneering International by 48.3% during the second quarter. SG Americas Securities LLC now owns 43,819 shares of the oil and gas company’s stock valued at $1,001,000 after buying an additional 14,270 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Oceaneering International by 10.0% during the 2nd quarter. Schroder Investment Management Group now owns 425,177 shares of the oil and gas company’s stock valued at $9,635,000 after purchasing an additional 38,535 shares during the last quarter. Oxford Asset Management bought a new position in shares of Oceaneering International during the 1st quarter valued at about $1,148,000. Mason Street Advisors LLC boosted its holdings in shares of Oceaneering International by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 46,331 shares of the oil and gas company’s stock valued at $1,255,000 after purchasing an additional 562 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Oceaneering International by 10.7% during the 2nd quarter. Legal & General Group Plc now owns 127,910 shares of the oil and gas company’s stock valued at $2,922,000 after purchasing an additional 12,414 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.
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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