Oceaneering International (NYSE:OII) was upgraded by research analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a report released on Wednesday, March 14th, MarketBeat.com reports. The brokerage currently has a $19.00 price target on the oil and gas company’s stock, up from their previous price target of $18.82. Jefferies Group’s price target would suggest a potential upside of 2.32% from the company’s current price. Jefferies Group also issued estimates for Oceaneering International’s Q1 2018 earnings at ($0.43) EPS, Q2 2018 earnings at ($0.25) EPS, Q3 2018 earnings at ($0.17) EPS, Q4 2018 earnings at ($0.16) EPS, FY2018 earnings at ($1.00) EPS and FY2019 earnings at ($0.40) EPS.
A number of other research firms also recently commented on OII. Wells Fargo reiterated an “underperform” rating on shares of Oceaneering International in a research note on Friday, January 12th. Scotiabank reiterated a “sector perform” rating on shares of Oceaneering International in a research note on Friday, January 12th. Scotia Howard Weill reiterated a “sector perform” rating on shares of Oceaneering International in a research note on Friday, January 12th. Howard Weil downgraded shares of Oceaneering International from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, January 12th. Finally, Cowen set a $27.00 price objective on shares of Oceaneering International and gave the company a “hold” rating in a research note on Thursday, January 11th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. Oceaneering International has an average rating of “Hold” and a consensus target price of $21.97.
Shares of OII stock traded down $0.61 on Wednesday, hitting $18.57. The stock had a trading volume of 1,173,063 shares, compared to its average volume of 1,329,084. Oceaneering International has a 52-week low of $17.11 and a 52-week high of $28.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.23 and a current ratio of 2.72.
Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. Oceaneering International had a net margin of 8.66% and a negative return on equity of 0.49%. The firm had revenue of $484.20 million for the quarter, compared to the consensus estimate of $435.90 million. During the same period in the prior year, the firm posted $0.03 EPS. The firm’s revenue was down .9% compared to the same quarter last year. equities analysts predict that Oceaneering International will post -0.65 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the business. Zions Bancorporation acquired a new stake in shares of Oceaneering International during the third quarter worth $100,000. Quantbot Technologies LP acquired a new stake in shares of Oceaneering International in the 3rd quarter worth about $103,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Oceaneering International in the 4th quarter worth about $112,000. State of Alaska Department of Revenue acquired a new stake in shares of Oceaneering International in the 4th quarter worth about $120,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Oceaneering International in the 3rd quarter worth about $214,000. 99.43% of the stock is currently owned by institutional investors.
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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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