Royal Bank of Canada Analysts Give Oceaneering International (NYSE:OII) a $22.00 Price Target

Oceaneering International (NYSE:OII) received a $22.00 price objective from analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, December 21st. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price points to a potential downside of 1.96% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays initiated coverage on shares of Oceaneering International in a research report on Friday, October 6th. They set an “equal weight” rating and a $28.00 target price on the stock. ValuEngine raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Cowen set a $28.00 price target on shares of Oceaneering International and gave the company a “hold” rating in a report on Friday, October 6th. Piper Jaffray Companies cut shares of Oceaneering International from an “overweight” rating to a “neutral” rating in a report on Friday, October 27th. Finally, Citigroup lowered their price target on shares of Oceaneering International from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, October 30th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.10.

Oceaneering International (NYSE:OII) opened at $22.44 on Thursday. Oceaneering International has a 12-month low of $17.11 and a 12-month high of $29.53. The company has a market cap of $2,266.31, a price-to-earnings ratio of -118.11 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.14 and a current ratio of 2.67.

Oceaneering International (NYSE:OII) last announced 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). The firm had revenue of $476.12 million during the quarter, compared to analysts’ expectations of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The company’s revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. equities research analysts forecast that Oceaneering International will post -0.09 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in OII. Utah Retirement Systems boosted its position in shares of Oceaneering International by 1.1% during the 2nd quarter. Utah Retirement Systems now owns 17,982 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 200 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Oceaneering International by 3.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock valued at $242,000 after acquiring an additional 330 shares during the last quarter. Arizona State Retirement System lifted its position in Oceaneering International by 1.5% in the second quarter. Arizona State Retirement System now owns 41,400 shares of the oil and gas company’s stock valued at $946,000 after buying an additional 600 shares during the last quarter. Harris Associates L P lifted its position in Oceaneering International by 2.1% in the second quarter. Harris Associates L P now owns 35,025 shares of the oil and gas company’s stock valued at $800,000 after buying an additional 725 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in Oceaneering International by 1.4% in the second quarter. Prudential Financial Inc. now owns 60,526 shares of the oil and gas company’s stock valued at $1,382,000 after buying an additional 860 shares during the last quarter. 99.69% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for Oceaneering International (NYSE:OII)

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