Oceaneering International (OII) Price Target Cut to $20.00 by Analysts at Citigroup Inc.
Oceaneering International (NYSE:OII) had its price objective decreased by Citigroup Inc. from $25.00 to $20.00 in a report issued on Monday. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup Inc.’s price target indicates a potential upside of 5.04% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Cowen and Company reissued a “hold” rating and issued a $25.00 price objective on shares of Oceaneering International in a research report on Tuesday, July 11th. ValuEngine lowered shares of Oceaneering International from a “hold” rating to a “sell” rating in a research report on Thursday. Loop Capital dropped their price objective on shares of Oceaneering International from $27.00 to $21.00 and set a “hold” rating for the company in a research report on Friday. Jefferies Group LLC set a $18.00 price objective on shares of Oceaneering International and gave the stock a “hold” rating in a research report on Sunday. Finally, J P Morgan Chase & Co dropped their price objective on shares of Oceaneering International from $21.00 to $17.00 and set an “underweight” rating for the company in a research report on Monday. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. Oceaneering International presently has a consensus rating of “Hold” and an average target price of $25.22.
Shares of Oceaneering International (OII) traded up 3.52% during trading on Monday, reaching $19.71. 2,720,492 shares of the company’s stock traded hands. Oceaneering International has a 1-year low of $17.11 and a 1-year high of $32.12. The company’s market capitalization is $1.94 billion. The stock has a 50-day moving average of $25.15 and a 200-day moving average of $24.69.
Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Oceaneering International had a negative return on equity of 0.47% and a negative net margin of 0.37%. The business had revenue of $476.12 million during the quarter, compared to analyst estimates of $511.14 million. During the same period in the previous year, the company earned $0.17 EPS. Oceaneering International’s revenue was down 13.3% on a year-over-year basis. On average, equities analysts predict that Oceaneering International will post ($0.04) EPS for the current fiscal year.
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In other Oceaneering International news, VP W Cardon Gerner sold 2,000 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $25.76, for a total transaction of $51,520.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.91% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Utah Retirement Systems raised its holdings in shares of Oceaneering International by 1.1% during the second quarter. Utah Retirement Systems now owns 17,982 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 200 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Oceaneering International by 3.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock worth $242,000 after purchasing an additional 330 shares during the period. Amalgamated Bank raised its holdings in shares of Oceaneering International by 2.9% during the first quarter. Amalgamated Bank now owns 15,522 shares of the oil and gas company’s stock worth $420,000 after purchasing an additional 439 shares during the period. Capstone Asset Management Co. raised its holdings in shares of Oceaneering International by 4.9% during the second quarter. Capstone Asset Management Co. now owns 12,128 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 570 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Oceaneering International by 1.5% during the second quarter. Arizona State Retirement System now owns 41,400 shares of the oil and gas company’s stock worth $946,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 99.54% of the company’s stock.
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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