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.
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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