Short Interest in Oceaneering International, Inc. (OII) Declines By 33.2%
Oceaneering International, Inc. (NYSE:OII) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 8,527,630 shares, a decrease of 33.2% from the August 31st total of 12,772,727 shares. Based on an average daily volume of 985,444 shares, the short-interest ratio is presently 8.7 days. Currently, 8.8% of the company’s stock are short sold.
Several brokerages have weighed in on OII. Cowen and Company set a $28.00 target price on Oceaneering International and gave the stock a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $26.00 price target on Oceaneering International and gave the stock a “buy” rating in a research note on Sunday, July 30th. Scotiabank set a $37.00 price target on Oceaneering International and gave the stock a “buy” rating in a research note on Friday, July 28th. J P Morgan Chase & Co decreased their price target on Oceaneering International from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday, September 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $25.00 price target on shares of Oceaneering International in a research note on Monday, June 19th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $28.90.
Shares of Oceaneering International (OII) opened at 25.45 on Thursday. The company’s 50-day moving average price is $24.49 and its 200 day moving average price is $24.91. Oceaneering International has a 52 week low of $20.74 and a 52 week high of $32.12. The company’s market cap is $2.50 billion.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The business had revenue of $515.04 million during the quarter, compared to analysts’ expectations of $481.86 million. During the same quarter last year, the company posted $0.23 earnings per share. Oceaneering International’s quarterly revenue was down 17.7% on a year-over-year basis. On average, equities analysts forecast that Oceaneering International will post ($0.04) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Wednesday, August 23rd. Oceaneering International’s payout ratio is currently -206.90%.
In other Oceaneering International news, VP W Cardon Gerner sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $25.76, for a total value of $51,520.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.91% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Utah Retirement Systems grew its holdings in Oceaneering International by 0.6% during the first quarter. Utah Retirement Systems now owns 17,782 shares of the oil and gas company’s stock worth $482,000 after purchasing an additional 100 shares during the period. Monroe Bank & Trust MI grew its holdings in Oceaneering International by 0.4% during the first quarter. Monroe Bank & Trust MI now owns 24,616 shares of the oil and gas company’s stock worth $667,000 after purchasing an additional 105 shares during the period. Teacher Retirement System of Texas grew its holdings in Oceaneering International by 4.0% during the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 300 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Oceaneering International by 3.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock worth $242,000 after purchasing an additional 330 shares during the period. Finally, Advantus Capital Management Inc grew its holdings in Oceaneering International by 3.0% during the first quarter. Advantus Capital Management Inc now owns 12,557 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 369 shares during the period. Institutional investors and hedge funds own 99.71% of the company’s stock.
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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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