Oceaneering International, Inc. (OII) Receives New Coverage from Analysts at Barclays PLC
Analysts at Barclays PLC initiated coverage on shares of Oceaneering International, Inc. (NYSE:OII) in a research report issued on Friday. The firm set an “equal weight” rating and a $28.00 price target on the oil and gas company’s stock. Barclays PLC’s target price indicates a potential upside of 9.93% from the company’s current price.
Several other brokerages have also recently issued reports on OII. Cowen and Company set a $28.00 price objective on Oceaneering International and gave the company a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies set a $26.00 price objective on Oceaneering International and gave the company a “buy” rating in a research note on Sunday, July 30th. Scotiabank set a $37.00 price objective on Oceaneering International and gave the company a “buy” rating in a research note on Friday, July 28th. J P Morgan Chase & Co decreased their price objective 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 issued a $25.00 price objective on shares of Oceaneering International in a research note on Monday, June 19th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.82.
Oceaneering International (NYSE OII) traded down 0.98% during mid-day trading on Friday, hitting $25.22. 660,020 shares of the company’s stock traded hands. The stock’s market cap is $2.48 billion. The firm’s 50-day moving average price is $24.58 and its 200-day moving average price is $24.92. Oceaneering International has a one year low of $20.74 and a one year high of $32.12.
Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $515.04 million during 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 business’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. On average, analysts forecast that Oceaneering International will post ($0.04) EPS for the current fiscal year.
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In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 2,000 shares of the business’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 completion of the sale, the director now owns 16,600 shares in the company, valued at $437,244. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.91% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Pacad Investment Ltd. lifted its stake in Oceaneering International by 231.3% in the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 3,700 shares during the last quarter. Westpac Banking Corp purchased a new stake in Oceaneering International in the first quarter valued at approximately $144,000. LS Investment Advisors LLC lifted its stake in Oceaneering International by 18.4% in the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after buying an additional 1,188 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Oceaneering International by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 300 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Oceaneering International by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 560 shares during the last quarter. Institutional investors own 99.71% 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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