Oceaneering International (NYSE:OII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, November 9th.
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 topic of several other research reports. Barclays started coverage on shares of Oceaneering International in a research note on Friday, October 6th. They issued an “equal weight” rating and a $28.00 target price on the stock. Piper Jaffray Companies restated an “overweight” rating and set a $28.00 price objective (up previously from $26.00) on shares of Oceaneering International in a research report on Tuesday, October 3rd. Royal Bank Of Canada restated a “sell” rating and set a $25.00 price objective on shares of Oceaneering International in a research report on Thursday, July 20th. J P Morgan Chase & Co lowered their price objective on shares of Oceaneering International from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 12th. Finally, ValuEngine upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. Oceaneering International currently has an average rating of “Hold” and an average target price of $24.84.
Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $476.12 million during the quarter, compared to analysts’ expectations of $511.14 million. Oceaneering International had a positive return on equity of 0.21% and a negative net margin of 0.94%. Oceaneering International’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. equities analysts expect that Oceaneering International will post -0.09 EPS for the current year.
In other news, Director Paul B. Murphy, Jr. sold 2,000 shares of the stock in a transaction on 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 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 is accessible through the SEC website. Corporate insiders own 0.91% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of OII. Zions Bancorporation purchased a new position in Oceaneering International during the third quarter valued at $100,000. Quantbot Technologies LP purchased a new position in Oceaneering International during the third quarter valued at $103,000. Pacad Investment Ltd. grew its stake in Oceaneering International by 231.3% during the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 3,700 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Oceaneering International by 121.2% during the third quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 2,865 shares in the last quarter. Finally, LS Investment Advisors LLC grew its stake in Oceaneering International by 18.4% during 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 acquiring an additional 1,188 shares in the last quarter. 99.71% of the stock is owned by institutional investors.
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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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