Oceaneering International, Inc. (OII) Given Average Rating of “Hold” by Brokerages
Shares of Oceaneering International, Inc. (NYSE:OII) have earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $30.44.
A number of research firms have commented on OII. Cowen and Company restated a “hold” rating and issued a $25.00 target price on shares of Oceaneering International in a research report on Tuesday, July 11th. Zacks Investment Research downgraded Oceaneering International from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Scotiabank set a $37.00 price objective on Oceaneering International and gave the company a “buy” rating in a report on Tuesday, June 13th. Piper Jaffray Companies set a $26.00 price objective on Oceaneering International and gave the company a “buy” rating in a report on Sunday, July 30th. Finally, BidaskClub cut Oceaneering International from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.
Several hedge funds and other institutional investors have recently made changes to their positions in OII. Pacad Investment Ltd. boosted its position in shares of Oceaneering International by 231.3% in the 2nd quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 3,700 shares during the period. Westpac Banking Corp acquired a new stake in shares of Oceaneering International in the 1st quarter valued at about $144,000. LS Investment Advisors LLC boosted its position in shares of Oceaneering International by 18.4% in the 2nd quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after purchasing an additional 1,188 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Oceaneering International by 4.0% in 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 purchasing an additional 300 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Oceaneering International by 7.7% in the 1st 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 purchasing an additional 560 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.
Oceaneering International (NYSE OII) opened at 24.32 on Friday. The company’s market capitalization is $2.39 billion. Oceaneering International has a 1-year low of $20.74 and a 1-year high of $32.12. The firm has a 50-day moving average price of $23.84 and a 200 day moving average price of $25.10.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $515.04 million for the quarter, compared to analyst estimates 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 revenue was down 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, equities analysts predict that Oceaneering International will post ($0.04) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.47%. Oceaneering International’s dividend payout ratio (DPR) is presently -206.90%.
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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