Oceaneering International, Inc. (NYSE:OII) had its price objective decreased by J P Morgan Chase & Co from $22.00 to $21.00 in a report issued on Tuesday morning. J P Morgan Chase & Co currently has an underweight rating on the oil and gas company’s stock.
A number of other equities research analysts also recently commented on OII. Jefferies Group LLC set a $25.00 target price on Oceaneering International and gave the company a hold rating in a report on Wednesday, May 17th. Wolfe Research downgraded Oceaneering International from a market perform rating to an underperform rating in a report on Tuesday, June 6th. Scotiabank set a $37.00 target price on Oceaneering International and gave the company a buy rating in a report on Tuesday, June 13th. Morgan Stanley downgraded Oceaneering International from an equal weight rating to an underweight rating and reduced their target price for the company from $33.00 to $28.00 in a report on Wednesday, June 21st. Finally, Seaport Global Securities downgraded Oceaneering International from a neutral rating to a sell rating and reduced their target price for the company from $24.00 to $19.00 in a report on Wednesday, June 21st. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $28.55.
Shares of Oceaneering International (NYSE OII) opened at 25.36 on Tuesday. Oceaneering International has a 12-month low of $20.74 and a 12-month high of $32.12. The stock has a 50 day moving average of $23.85 and a 200-day moving average of $25.03. The company’s market capitalization is $2.49 billion.
Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The company had revenue of $515.04 million during the quarter, compared to the consensus estimate of $481.86 million. During the same quarter last year, the company earned $0.23 earnings per share. Oceaneering International’s quarterly revenue was down 17.7% compared to the same quarter last year. Analysts predict that Oceaneering International will post ($0.04) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, August 23rd. Oceaneering International’s dividend payout ratio is currently -206.90%.
A number of institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC purchased a new stake in Oceaneering International during the 2nd quarter worth about $307,000. Dean Capital Management increased its position in Oceaneering International by 71.0% during the 2nd quarter. Dean Capital Management now owns 141,063 shares of the oil and gas company’s stock worth $3,222,000 after purchasing an additional 58,560 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in Oceaneering International during the 2nd quarter worth about $2,829,000. Raymond James Financial Services Advisors Inc. increased its position in Oceaneering International by 19.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,326 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 1,512 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Oceaneering International by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 144,296 shares of the oil and gas company’s stock worth $3,295,000 after purchasing an additional 2,661 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.
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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