Oceaneering International, Inc. (OII) PT Set at $28.00 by Cowen and Company
Oceaneering International, Inc. (NYSE:OII) has been given a $28.00 target price by equities research analysts at Cowen and Company in a report released on Friday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Cowen and Company’s target price indicates a potential upside of 10.85% from the stock’s previous close.
OII has been the topic of several other reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $28.00 price objective (up from $26.00) on shares of Oceaneering International in a report on Tuesday. Royal Bank Of Canada reissued a “sell” rating and issued a $25.00 price objective on shares of Oceaneering International in a report on Thursday, July 20th. Scotiabank set a $37.00 price objective on Oceaneering International and gave the company a “buy” rating in a report on Friday, July 28th. ValuEngine raised Oceaneering International from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, J P Morgan Chase & Co dropped their price objective on Oceaneering International from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday, September 12th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.82.
Oceaneering International (NYSE OII) traded down 0.82% on Friday, reaching $25.26. The company’s stock had a trading volume of 1,510,798 shares. Oceaneering International has a 12-month low of $20.74 and a 12-month high of $32.12. The company’s market capitalization is $2.48 billion. The firm has a 50-day moving average of $24.58 and a 200 day moving average of $24.92.
Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 EPS 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 analyst estimates of $481.86 million. During the same period last year, the company earned $0.23 earnings per share. Oceaneering International’s quarterly revenue was down 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that Oceaneering International will post ($0.04) EPS for the current fiscal year.
In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 2,000 shares of Oceaneering International stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the sale, the director now owns 16,600 shares in the company, valued at $437,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised 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 valued at $230,542,000 after purchasing an additional 8,433,478 shares during the period. Vanguard Group Inc. raised its position in Oceaneering International by 1.0% in the second quarter. Vanguard Group Inc. now owns 8,459,942 shares of the oil and gas company’s stock valued at $193,226,000 after purchasing an additional 81,313 shares during the period. Dimensional Fund Advisors LP raised its position in Oceaneering International by 39.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,205,338 shares of the oil and gas company’s stock valued at $96,049,000 after purchasing an additional 1,190,224 shares during the period. Eaton Vance Management raised its position in Oceaneering International by 20.4% in the second quarter. Eaton Vance Management now owns 3,068,529 shares of the oil and gas company’s stock valued at $70,085,000 after purchasing an additional 519,289 shares during the period. Finally, State Street Corp raised its position in 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 purchasing an additional 21,246 shares during the period. Institutional investors own 99.71% of the company’s stock.
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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