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 report issued on Saturday.
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. “
A number of other analysts have also recently commented on the company. Seaport Global Securities restated an “accumulate” rating on shares of Oceaneering International in a research report on Friday, August 19th. Royal Bank Of Canada reduced their price target on Oceaneering International from $32.00 to $28.00 and set a “sector perform” rating for the company in a research report on Thursday, September 15th. Loop Capital began coverage on Oceaneering International in a research report on Friday, September 30th. They issued a “buy” rating for the company. RBC Capital Markets set a $28.00 price target on Oceaneering International and gave the stock a “hold” rating in a research report on Thursday, September 15th. Finally, Citigroup Inc. began coverage on Oceaneering International in a research report on Tuesday, September 27th. They issued a “neutral” rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Oceaneering International has a consensus rating of “Hold” and a consensus target price of $33.97.
Shares of Oceaneering International (NYSE:OII) opened at 25.81 on Friday. The company has a 50-day moving average price of $25.57 and a 200-day moving average price of $28.33. Oceaneering International has a 52-week low of $22.47 and a 52-week high of $44.39. The company has a market cap of $2.53 billion, a P/E ratio of 40.45 and a beta of 1.56.
Oceaneering International (NYSE:OII) last posted its earnings results on Thursday, October 27th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Oceaneering International had a return on equity of 8.17% and a net margin of 2.52%. The company had revenue of $549 million for the quarter, compared to the consensus estimate of $344 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. Oceaneering International’s revenue was down 26.1% on a year-over-year basis. On average, equities analysts predict that Oceaneering International will post $0.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 25th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, November 22nd. Oceaneering International’s payout ratio is 92.31%.
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In related news, SVP John R. Kreider sold 3,501 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $23.74, for a total transaction of $83,113.74. Following the completion of the sale, the senior vice president now directly owns 34,616 shares of the company’s stock, valued at approximately $821,783.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of OII. IndexIQ Advisors LLC acquired a new stake in shares of Oceaneering International during the third quarter worth about $111,000. Acrospire Investment Management LLC raised its stake in shares of Oceaneering International by 77.3% in the second quarter. Acrospire Investment Management LLC now owns 3,900 shares of the company’s stock worth $116,000 after buying an additional 1,700 shares in the last quarter. Creative Planning raised its stake in shares of Oceaneering International by 328.9% in the third quarter. Creative Planning now owns 6,189 shares of the company’s stock worth $170,000 after buying an additional 4,746 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Oceaneering International by 7.1% in the third quarter. LS Investment Advisors LLC now owns 6,257 shares of the company’s stock worth $172,000 after buying an additional 413 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in shares of Oceaneering International during the second quarter worth about $173,000. 94.11% of the stock is owned by hedge funds and other institutional investors.
About Oceaneering International
Oceaneering International, Inc is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deep water applications. The Company’s business segments include services and products provided to the oil and gas industry (Oilfield), and all other services and products (Advanced Technologies).
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