Oceaneering International (NYSE:OII) Shares Gap Down to $8.31

Oceaneering International, Inc. (NYSE:OIIGet Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $8.31, but opened at $7.83. Oceaneering International shares last traded at $7.60, with a volume of 6,325 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays lowered their target price on shares of Oceaneering International from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, August 2nd. Cowen decreased their target price on Oceaneering International to $13.00 in a research note on Tuesday, August 9th.

Oceaneering International Price Performance

The company has a debt-to-equity ratio of 1.47, a current ratio of 2.43 and a quick ratio of 2.07. The firm has a market cap of $758.97 million, a price-to-earnings ratio of -12.43 and a beta of 2.78. The stock has a 50-day moving average price of $9.44 and a 200 day moving average price of $11.66.

Oceaneering International (NYSE:OIIGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). The firm had revenue of $524.03 million during the quarter, compared to analysts’ expectations of $521.02 million. Oceaneering International had a negative net margin of 3.24% and a positive return on equity of 0.91%. Oceaneering International’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, equities research analysts forecast that Oceaneering International, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Oceaneering International

A number of hedge funds have recently added to or reduced their stakes in OII. Point72 Hong Kong Ltd increased its stake in shares of Oceaneering International by 250.1% during the second quarter. Point72 Hong Kong Ltd now owns 2,804 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 2,003 shares during the period. MCF Advisors LLC acquired a new position in Oceaneering International during the 1st quarter worth approximately $44,000. Advisor Group Holdings Inc. raised its stake in shares of Oceaneering International by 111.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,100 shares of the oil and gas company’s stock worth $47,000 after buying an additional 1,635 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new stake in shares of Oceaneering International in the 1st quarter valued at approximately $427,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Oceaneering International in the fourth quarter valued at approximately $90,000. 91.67% of the stock is owned by institutional investors and hedge funds.

About Oceaneering International

(Get Rating)

Oceaneering International, Inc provides engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair.

Further Reading

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