Oceaneering International (NYSE:OII) has been given a $24.00 target price by analysts at SunTrust Banks in a research note issued on Tuesday, The Fly reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. SunTrust Banks’ price objective would suggest a potential downside of 5.99% from the company’s previous close. SunTrust Banks also issued estimates for Oceaneering International’s Q3 2019 earnings at $0.01 EPS and Q4 2019 earnings at ($0.01) EPS. The analysts noted that the move was a valuation call.
A number of other research analysts also recently issued reports on the company. Cowen assumed coverage on Oceaneering International in a report on Saturday, October 13th. They issued a “hold” rating and a $27.00 price target on the stock. Societe Generale raised Oceaneering International from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Friday, October 12th. Seaport Global Securities reissued a “neutral” rating on shares of Oceaneering International in a research report on Wednesday, August 29th. Zacks Investment Research cut Oceaneering International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Gabelli raised Oceaneering International from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. Oceaneering International has an average rating of “Hold” and an average target price of $25.93.
OII opened at $25.53 on Tuesday. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -364.71 and a beta of 1.37. Oceaneering International has a 52 week low of $17.11 and a 52 week high of $28.62. The company has a current ratio of 2.61, a quick ratio of 2.17 and a debt-to-equity ratio of 0.50.
Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.03. The company 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%. Oceaneering International’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. On average, equities research analysts forecast that Oceaneering International will post -1.01 EPS for the current fiscal year.
In other Oceaneering International news, Director T Jay Collins sold 16,750 shares of Oceaneering International stock in a transaction dated 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 accessible through this link. Insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Oceaneering International by 31.3% during the 2nd quarter. BlackRock Inc. now owns 11,198,680 shares of the oil and gas company’s stock valued at $285,118,000 after buying an additional 2,667,334 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Oceaneering International by 164.0% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,676,654 shares of the oil and gas company’s stock valued at $68,165,000 after purchasing an additional 2,284,186 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Oceaneering International by 917.5% in the 1st quarter. Legal & General Group Plc now owns 1,548,354 shares of the oil and gas company’s stock valued at $28,707,000 after purchasing an additional 1,396,187 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Oceaneering International by 140.8% in the 2nd quarter. Fisher Asset Management LLC now owns 1,562,067 shares of the oil and gas company’s stock valued at $39,770,000 after purchasing an additional 913,375 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Oceaneering International by 10.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,654,076 shares of the oil and gas company’s stock valued at $194,872,000 after purchasing an additional 735,367 shares in the last quarter.
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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