Stock analysts at Barclays PLC assumed coverage on shares of Oceaneering International, Inc. (NYSE:OII) in a research report issued to clients and investors on Friday, October 6th, Marketbeat reports. The brokerage set an “equal weight” rating and a $28.00 price target on the oil and gas company’s stock. Barclays PLC’s price objective would suggest a potential upside of 11.87% from the company’s previous close.
OII has been the topic of several other reports. Piper Jaffray Companies reiterated an “overweight” rating and issued a $28.00 price target (up from $26.00) on shares of Oceaneering International in a research report on Tuesday, October 3rd. Royal Bank Of Canada reiterated a “sell” rating and issued a $25.00 price target on shares of Oceaneering International in a research report on Thursday, July 20th. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the stock a “buy” rating in a research note on Friday, July 28th. ValuEngine raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co reduced their price objective on shares of Oceaneering International from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday, September 12th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Oceaneering International presently has an average rating of “Hold” and an average target price of $28.75.
Oceaneering International (NYSE:OII) opened at 25.03 on Friday. The firm’s 50-day moving average price is $25.14 and its 200 day moving average price is $24.90. Oceaneering International has a 12-month low of $20.74 and a 12-month high of $32.12. The company’s market capitalization is $2.46 billion.
Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share 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 business had revenue of $515.04 million for the quarter, compared to the consensus estimate of $481.86 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was down 17.7% on a year-over-year basis. On average, analysts expect that Oceaneering International will post ($0.03) earnings per share for the current year.
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In other news, Director Paul B. Murphy, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were 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 approximately $437,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.91% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Utah Retirement Systems lifted its holdings in shares of Oceaneering International by 0.6% in the 1st quarter. Utah Retirement Systems now owns 17,782 shares of the oil and gas company’s stock worth $482,000 after acquiring an additional 100 shares during the last quarter. Monroe Bank & Trust MI lifted its holdings in shares of Oceaneering International by 0.4% in the 1st quarter. Monroe Bank & Trust MI now owns 24,616 shares of the oil and gas company’s stock worth $667,000 after acquiring an additional 105 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Oceaneering International by 4.0% during the 1st 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Oceaneering International by 3.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock valued at $242,000 after buying an additional 330 shares in the last quarter. Finally, Advantus Capital Management Inc lifted its holdings in Oceaneering International by 3.0% during the 1st quarter. Advantus Capital Management Inc now owns 12,557 shares of the oil and gas company’s stock valued at $340,000 after buying an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.
Oceaneering International Company Profile
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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