Oceaneering International (OII) Given a $27.00 Price Target by Cowen Analysts
Oceaneering International (NYSE:OII) has been assigned a $27.00 price objective by investment analysts at Cowen in a report released on Thursday. The firm presently has a “hold” rating on the oil and gas company’s stock. Cowen’s price target would suggest a potential upside of 20.32% from the company’s current price.
Several other equities analysts have also weighed in on the company. Capital One Financial lowered Oceaneering International from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 16th. Royal Bank of Canada restated a “buy” rating and set a $27.00 target price on shares of Oceaneering International in a report on Monday, October 30th. Tudor Pickering upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Zacks Investment Research upgraded Oceaneering International from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Loop Capital lowered their price target on Oceaneering International from $27.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, October 27th. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.10.
Oceaneering International (OII) opened at $22.44 on Thursday. Oceaneering International has a 1-year low of $17.11 and a 1-year high of $29.53. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2,210.00, a PE ratio of -118.11 and a beta of 1.62.
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 Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The company had revenue of $476.12 million for the quarter, compared to the consensus estimate of $511.14 million. During the same quarter last year, the business earned $0.17 earnings per share. Oceaneering International’s quarterly revenue was down 13.3% on a year-over-year basis. equities research analysts anticipate that Oceaneering International will post -0.09 EPS for the current year.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of 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 last quarter. Dimensional Fund Advisors LP grew its position in Oceaneering International by 17.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,936,686 shares of the oil and gas company’s stock worth $129,688,000 after buying an additional 731,348 shares in the last quarter. Lazard Asset Management LLC grew its position in Oceaneering International by 3.8% during the second quarter. Lazard Asset Management LLC now owns 2,233,521 shares of the oil and gas company’s stock worth $51,013,000 after buying an additional 80,740 shares in the last quarter. Bank of New York Mellon Corp grew its position in Oceaneering International by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 2,231,141 shares of the oil and gas company’s stock worth $58,612,000 after buying an additional 41,844 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Oceaneering International by 11.2% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,568,651 shares of the oil and gas company’s stock worth $41,208,000 after buying an additional 158,533 shares in the last quarter. 99.69% of the stock is currently owned by institutional investors.
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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