Oceaneering International (OII) Receives $24.08 Average Price Target from Analysts

Oceaneering International (NYSE:OII) has earned an average recommendation of “Hold” from the twenty-three research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.77.

A number of equities analysts have weighed in on OII shares. Gabelli raised Oceaneering International from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, July 30th. Societe Generale raised Oceaneering International from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Friday, October 12th. Zacks Investment Research raised Oceaneering International from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, July 16th. ValuEngine raised Oceaneering International from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $28.00 price target on shares of Oceaneering International in a research report on Friday, July 27th.

In other news, Director T Jay Collins sold 16,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total transaction of $443,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. Strs Ohio boosted its holdings in shares of Oceaneering International by 330.0% during the third quarter. Strs Ohio now owns 4,300 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 3,300 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Oceaneering International during the third quarter worth approximately $924,000. Personal Capital Advisors Corp boosted its holdings in shares of Oceaneering International by 7.5% during the third quarter. Personal Capital Advisors Corp now owns 172,289 shares of the oil and gas company’s stock worth $4,755,000 after acquiring an additional 11,989 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Oceaneering International during the third quarter worth approximately $413,000. Finally, Northern Trust Corp boosted its holdings in shares of Oceaneering International by 82.3% during the second quarter. Northern Trust Corp now owns 1,557,801 shares of the oil and gas company’s stock worth $39,661,000 after acquiring an additional 703,347 shares during the period.

Shares of NYSE:OII traded down $0.27 during midday trading on Friday, reaching $23.54. The company had a trading volume of 70,672 shares, compared to its average volume of 921,933. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.17 and a current ratio of 2.61. The company has a market cap of $2.52 billion, a P/E ratio of -342.29 and a beta of 1.37. Oceaneering International has a 1-year low of $17.11 and a 1-year high of $28.62.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $479.00 million for the quarter, compared to the consensus estimate of $448.96 million. Oceaneering International had a negative return on equity of 4.31% and a net margin of 4.83%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. As a group, equities analysts predict that Oceaneering International will post -1.02 earnings per share for the current fiscal year.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Analyst Recommendations for Oceaneering International (NYSE:OII)

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