Oceaneering International, Inc. (OII) Lifted to “Neutral” at Seaport Global Securities
Oceaneering International, Inc. (NYSE:OII) was upgraded by analysts at Seaport Global Securities from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday, The Fly reports.
Several other equities analysts have also commented on the company. Cowen and Company reissued a “hold” rating and set a $25.00 price objective on shares of Oceaneering International in a research report on Tuesday, July 11th. BidaskClub raised Oceaneering International from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research lowered Oceaneering International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $25.00 price target on shares of Oceaneering International in a research report on Tuesday, April 11th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $37.00 price target on shares of Oceaneering International in a research report on Wednesday, March 22nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.00.
Oceaneering International (NYSE OII) opened at 24.77 on Thursday. The stock has a 50 day moving average of $23.59 and a 200-day moving average of $26.07. The firm’s market cap is $2.43 billion. Oceaneering International has a 12 month low of $20.74 and a 12 month high of $32.12.
Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $446.18 million for the quarter, compared to analysts’ expectations of $459.57 million. Oceaneering International had a negative net margin of 0.38% and a positive return on equity of 2.72%. The firm’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. Equities research analysts predict that Oceaneering International will post ($0.11) earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Oceaneering International by 10,555.3% in the first quarter. BlackRock Inc. now owns 8,513,376 shares of the oil and gas company’s stock worth $230,542,000 after buying an additional 8,433,478 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Oceaneering International by 91.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,015,114 shares of the oil and gas company’s stock valued at $81,648,000 after buying an additional 1,443,300 shares during the period. State Street Corp boosted its stake in shares of Oceaneering International by 0.7% in the first quarter. State Street Corp now owns 2,995,000 shares of the oil and gas company’s stock valued at $81,101,000 after buying an additional 21,246 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Oceaneering International by 34.6% in the first quarter. Bank of New York Mellon Corp now owns 2,199,714 shares of the oil and gas company’s stock valued at $59,569,000 after buying an additional 565,334 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Oceaneering International by 16.0% in the first quarter. AQR Capital Management LLC now owns 1,758,624 shares of the oil and gas company’s stock valued at $47,624,000 after buying an additional 242,499 shares during the period. 98.81% 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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