Scotiabank Analysts Give Oceaneering International, Inc. (NYSE:OII) a $37.00 Price Target
Scotiabank set a $37.00 price target on Oceaneering International, Inc. (NYSE:OII) in a research report report published on Friday. The firm currently has a buy rating on the oil and gas company’s stock.
Several other analysts have also recently commented on OII. Jefferies Group LLC restated a hold rating and issued a $25.00 target price on shares of Oceaneering International in a research note on Tuesday, April 11th. Zacks Investment Research cut shares of Oceaneering International from a hold rating to a sell rating in a research note on Thursday, April 13th. Royal Bank Of Canada restated a sell rating and issued a $30.00 target price on shares of Oceaneering International in a research note on Friday, April 21st. Wolfe Research cut shares of Oceaneering International from a market perform rating to an underperform rating in a research note on Tuesday, June 6th. Finally, Morgan Stanley cut shares of Oceaneering International from an equal weight rating to an underweight rating and reduced their target price for the stock from $33.00 to $28.00 in a research note on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $28.20.
Oceaneering International (NYSE OII) traded down 0.19% on Friday, reaching $25.60. 271,466 shares of the company were exchanged. The stock has a 50-day moving average price of $23.61 and a 200 day moving average price of $25.86. The stock’s market capitalization is $2.53 billion. Oceaneering International has a 52 week low of $20.74 and a 52 week high of $32.12.
Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. The company had revenue of $515.04 million during the quarter, compared to analysts’ expectations of $481.86 million. During the same quarter last year, the business earned $0.23 EPS. The business’s revenue was down 17.7% on a year-over-year basis. Analysts forecast that Oceaneering International will post ($0.10) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 23rd. Oceaneering International’s dividend payout ratio (DPR) is -206.90%.
A number of institutional investors have recently made changes to their positions in OII. Viking Fund Management LLC acquired a new position in shares of Oceaneering International during the first quarter worth about $2,166,000. Dean Investment Associates LLC boosted its position in shares of Oceaneering International by 8.1% in the first quarter. Dean Investment Associates LLC now owns 179,813 shares of the oil and gas company’s stock worth $4,869,000 after buying an additional 13,525 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Oceaneering International by 6.5% in the first quarter. Capstone Asset Management Co. now owns 11,558 shares of the oil and gas company’s stock worth $313,000 after buying an additional 710 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Oceaneering International by 1.2% in the first quarter. Mason Street Advisors LLC now owns 46,331 shares of the oil and gas company’s stock worth $1,255,000 after buying an additional 562 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Oceaneering International by 2.0% in the first quarter. Nationwide Fund Advisors now owns 177,448 shares of the oil and gas company’s stock worth $4,805,000 after buying an additional 3,408 shares during the last quarter. Institutional investors own 98.37% 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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