Oceaneering International (OII) Given “Buy” Rating at Royal Bank Of Canada
Oceaneering International (NYSE:OII)‘s stock had its “buy” rating reissued by analysts at Royal Bank Of Canada in a research report issued on Monday. They presently have a $27.00 target price on the oil and gas company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 36.99% from the stock’s previous close.
A number of other analysts also recently commented on OII. Zacks Investment Research downgraded Oceaneering International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub raised Oceaneering International from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Cowen and Company reaffirmed a “hold” rating and set a $25.00 price target on shares of Oceaneering International in a research report on Tuesday, July 11th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Oceaneering International in a research report on Thursday, July 20th. Finally, Scotiabank set a $37.00 price target on Oceaneering International and gave the company a “buy” rating in a research report on Friday, July 28th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Oceaneering International currently has an average rating of “Hold” and a consensus price target of $24.84.
Oceaneering International (NYSE:OII) traded up 3.52% on Monday, hitting $19.71. The company’s stock had a trading volume of 3,107,486 shares. The firm has a 50 day moving average of $25.02 and a 200-day moving average of $24.59. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $32.12. The stock’s market cap is $1.94 billion.
Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The company had revenue of $476.12 million during the quarter, compared to the consensus estimate of $511.14 million. Oceaneering International had a negative net margin of 0.37% and a negative return on equity of 0.47%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, analysts expect that Oceaneering International will post ($0.04) earnings per share for the current fiscal year.
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In related 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 transaction of $52,680.00. Following the completion of the sale, the director now owns 16,600 shares of the company’s stock, valued at $437,244. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Oceaneering International by 10,555.3% during 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 during the period. Vanguard Group Inc. boosted its stake in Oceaneering International by 1.0% during 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 buying an additional 81,313 shares during the period. Dimensional Fund Advisors LP boosted its stake in Oceaneering International by 39.5% during 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 buying an additional 1,190,224 shares during the period. Eaton Vance Management boosted its stake in Oceaneering International by 20.4% during 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 buying an additional 519,289 shares during the period. Finally, State Street Corp boosted its stake in Oceaneering International by 0.7% during 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. 99.54% of the stock is 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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