Oceaneering International (NYSE:OII) was upgraded by stock analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a note issued to investors on Wednesday. The brokerage currently has a $19.00 target price on the oil and gas company’s stock, up from their prior target price of $18.82. Jefferies Group’s price target suggests a potential upside of 4.17% from the stock’s current price.
Several other research firms have also recently weighed in on OII. Royal Bank of Canada set a $22.00 price objective on Oceaneering International and gave the company a “buy” rating in a research report on Thursday, December 21st. Cowen set a $27.00 price objective on Oceaneering International and gave the company a “hold” rating in a research report on Thursday, January 11th. ValuEngine cut Oceaneering International from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Wells Fargo & Co reissued an “outperform” rating and issued a $17.00 price objective (down from $18.00) on shares of Oceaneering International in a research report on Monday, February 26th. Finally, Scotiabank reissued a “sector perform” rating on shares of Oceaneering International in a research report on Friday, January 12th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.97.
Shares of Oceaneering International (OII) opened at $18.24 on Wednesday. The stock has a market capitalization of $1,853.02, a P/E ratio of 10.86 and a beta of 1.46. The company has a current ratio of 2.72, a quick ratio of 2.23 and a debt-to-equity ratio of 0.48. Oceaneering International has a 12-month low of $17.11 and a 12-month high of $28.21.
Oceaneering International (NYSE:OII) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $484.20 million during the quarter, compared to analysts’ expectations of $435.90 million. Oceaneering International had a negative return on equity of 0.49% and a net margin of 8.66%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. equities analysts forecast that Oceaneering International will post -0.56 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation acquired a new position in shares of Oceaneering International in the third quarter valued at $100,000. Quantbot Technologies LP acquired a new position in shares of Oceaneering International in the third quarter valued at $103,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Oceaneering International in the fourth quarter valued at $112,000. State of Alaska Department of Revenue acquired a new position in Oceaneering International during the fourth quarter worth $120,000. Finally, Teacher Retirement System of Texas acquired a new position in Oceaneering International during the third quarter worth $214,000. Institutional investors and hedge funds own 99.44% of the company’s stock.
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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).
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