Oceaneering International, Inc. (OII) Sees Large Growth in Short Interest
Oceaneering International, Inc. (NYSE:OII) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 12,772,727 shares, a growth of 68.5% from the August 15th total of 7,580,208 shares. Based on an average daily volume of 1,249,075 shares, the days-to-cover ratio is currently 10.2 days. Approximately 13.1% of the shares of the company are sold short.
Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Oceaneering International by 10,555.3% in the 1st 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 during the last quarter. Vanguard Group Inc. increased its holdings in shares of Oceaneering International by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,459,942 shares of the oil and gas company’s stock worth $193,226,000 after buying an additional 81,313 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Oceaneering International by 39.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,205,338 shares of the oil and gas company’s stock worth $96,049,000 after buying an additional 1,190,224 shares during the last quarter. Eaton Vance Management increased its holdings in shares of Oceaneering International by 20.4% in the 2nd quarter. Eaton Vance Management now owns 3,068,529 shares of the oil and gas company’s stock worth $70,085,000 after buying an additional 519,289 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Oceaneering International by 0.7% in the 1st quarter. State Street Corp now owns 2,995,000 shares of the oil and gas company’s stock worth $81,101,000 after buying an additional 21,246 shares during the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on OII. BidaskClub cut shares of Oceaneering International from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada reaffirmed a “sell” rating and set a $25.00 target price on shares of Oceaneering International in a report on Thursday, July 20th. Seaport Global Securities cut shares of Oceaneering International from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $24.00 to $19.00 in a report on Wednesday, June 21st. Piper Jaffray Companies set a $26.00 target price on shares of Oceaneering International and gave the stock a “buy” rating in a report on Sunday, July 30th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $25.00 target price on shares of Oceaneering International in a report on Monday, June 19th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Oceaneering International currently has a consensus rating of “Hold” and an average target price of $28.55.
Shares of Oceaneering International (NYSE OII) opened at 25.80 on Friday. The company’s market cap is $2.54 billion. The firm’s 50 day moving average is $23.94 and its 200-day moving average is $25.00. Oceaneering International has a 1-year low of $20.74 and a 1-year high of $32.12.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 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 negative net margin of 1.41% and a positive return on equity of 1.14%. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. Equities analysts expect that Oceaneering International will post ($0.04) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, August 23rd. Oceaneering International’s payout ratio is -206.90%.
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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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