Zacks Investment Research Upgrades Oceaneering International, Inc. (OII) to “Hold”
Oceaneering International, Inc. (NYSE:OII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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 subject of a number of other reports. Jefferies Group LLC set a $18.00 price target on Oceaneering International and gave the company a “hold” rating in a research note on Sunday, October 29th. Scotiabank set a $37.00 price target on Oceaneering International and gave the company a “buy” rating in a research note on Friday, October 27th. Cowen and Company set a $21.00 price target on Oceaneering International and gave the company a “hold” rating in a research note on Sunday, October 29th. Royal Bank Of Canada restated a “sell” rating and issued a $25.00 price objective on shares of Oceaneering International in a research note on Thursday, July 20th. Finally, Deutsche Bank AG began coverage on Oceaneering International in a research note on Tuesday, October 10th. They issued a “hold” rating and a $28.00 price objective for the company. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.84.
Shares of Oceaneering International (OII) opened at $20.68 on Thursday. The company has a quick ratio of 2.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.53. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $32.12. The company has a market capitalization of $2,070.00, a PE ratio of 711.67 and a beta of 1.64.
Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The business had revenue of $476.12 million during the quarter, compared to analysts’ expectations of $511.14 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. equities research analysts predict that Oceaneering International will post -0.08 EPS for the current year.
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In other Oceaneering International 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 stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the sale, the director now directly owns 16,600 shares of the company’s stock, valued at $437,244. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of OII. Utah Retirement Systems boosted its stake in shares of Oceaneering International by 1.1% in the second quarter. Utah Retirement Systems now owns 17,982 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 200 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Oceaneering International by 3.2% in 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 acquiring an additional 330 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Oceaneering International by 2.9% in the first quarter. Amalgamated Bank now owns 15,522 shares of the oil and gas company’s stock worth $420,000 after acquiring an additional 439 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Oceaneering International by 4.9% in the second quarter. Capstone Asset Management Co. now owns 12,128 shares of the oil and gas company’s stock worth $277,000 after acquiring an additional 570 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Oceaneering International by 1.5% in the second quarter. Arizona State Retirement System now owns 41,400 shares of the oil and gas company’s stock worth $946,000 after acquiring an additional 600 shares during the last quarter. 99.64% of the stock is currently owned by institutional investors.
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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