Oceaneering International, Inc. (NYSE:OII) Given Consensus Rating of “Hold” by Brokerages
Oceaneering International, Inc. (NYSE:OII) has received an average rating of “Hold” from the eighteen analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $29.56.
Several brokerages have weighed in on OII. BidaskClub downgraded Oceaneering International from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reiterated a “sell” rating and issued a $25.00 target price on shares of Oceaneering International in a research note on Thursday, July 20th. Seaport Global Securities downgraded Oceaneering International from a “neutral” rating to a “sell” rating and lowered their target price for the company from $24.00 to $19.00 in a research note on Wednesday, June 21st. Scotiabank reiterated a “buy” rating and issued a $37.00 target price on shares of Oceaneering International in a research note on Friday, April 28th. Finally, Piper Jaffray Companies set a $26.00 target price on Oceaneering International and gave the company a “buy” rating in a research note on Sunday, July 30th.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake 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 valued at $230,542,000 after buying an additional 8,433,478 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 in the last quarter. Janus Henderson Group PLC acquired a new stake in Oceaneering International during the second quarter valued at approximately $22,929,000. Balyasny Asset Management LLC boosted its stake in Oceaneering International by 2,750.8% in the second quarter. Balyasny Asset Management LLC now owns 843,843 shares of the oil and gas company’s stock valued at $19,273,000 after buying an additional 814,243 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in Oceaneering International during the first quarter valued at approximately $21,063,000. 98.08% of the stock is owned by institutional investors and hedge funds.
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Oceaneering International (OII) opened at 23.16 on Tuesday. The firm has a 50-day moving average price of $23.83 and a 200-day moving average price of $25.65. Oceaneering International has a one year low of $20.74 and a one year high of $32.12. The firm’s market capitalization is $2.28 billion.
Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The company 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 business posted $0.23 EPS. The company’s revenue was down 17.7% on a year-over-year basis. Equities analysts anticipate that Oceaneering International will post ($0.04) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a dividend yield of 2.59%. Oceaneering International’s dividend payout ratio is currently -206.90%.
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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