Oceaneering International Inc. (OII) Trading Up 6.7%
Oceaneering International Inc. (NYSE:OII) shares were up 6.7% on Tuesday . The stock traded as high as $31.49 and last traded at $31.42, with a volume of 692,570 shares changing hands. The stock had previously closed at $29.44.
OII has been the subject of a number of research reports. Societe Generale raised shares of Oceaneering International from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, April 29th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $27.00 target price on shares of Oceaneering International in a report on Thursday, June 2nd. Morgan Stanley upped their target price on shares of Oceaneering International from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, April 19th. Zacks Investment Research cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Oceaneering International in a report on Wednesday, June 22nd. They set an “underweight” rating and a $23.00 target price for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Oceaneering International currently has a consensus rating of “Hold” and a consensus target price of $37.71.
The company’s 50-day moving average is $31.62 and its 200-day moving average is $31.98. The firm has a market capitalization of $3.06 billion and a price-to-earnings ratio of 16.44.
Oceaneering International (NYSE:OII) last posted its earnings results on Monday, April 25th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.09. The firm had revenue of $608.34 million for the quarter, compared to analysts’ expectations of $641.85 million. Oceaneering International’s quarterly revenue was down 22.7% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. Equities research analysts forecast that Oceaneering International Inc. will post $1.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, May 27th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Wednesday, May 25th.
In other news, Director T Jay Collins sold 20,000 shares of Oceaneering International stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $33.04, for a total transaction of $660,800.00. Following the completion of the transaction, the director now directly owns 42,252 shares of the company’s stock, valued at approximately $1,396,006.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Stephen P. Barrett bought 1,000 shares of the business’s stock in a transaction dated Wednesday, June 29th. The shares were purchased at an average cost of $28.91 per share, with a total value of $28,910.00. Following the completion of the acquisition, the vice president now owns 21,718 shares in the company, valued at $627,867.38. The disclosure for this purchase can be found here.
Other large investors recently modified their holdings of the company. Russell Frank Co raised its stake in shares of Oceaneering International by 24.5% in the fourth quarter. Russell Frank Co now owns 140,592 shares of the company’s stock valued at $5,265,000 after buying an additional 27,667 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Oceaneering International by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 187,794 shares of the company’s stock valued at $7,046,000 after buying an additional 3,003 shares during the last quarter. Swiss National Bank raised its stake in shares of Oceaneering International by 1.0% in the fourth quarter. Swiss National Bank now owns 177,500 shares of the company’s stock valued at $6,660,000 after buying an additional 1,700 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Oceaneering International by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 299,840 shares of the company’s stock valued at $11,250,000 after buying an additional 4,600 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Oceaneering International during the fourth quarter valued at approximately $1,671,000.
Oceaneering International, Inc is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deep water applications. The Company’s business segments include services and products provided to the oil and gas industry (Oilfield), and all other services and products (Advanced Technologies).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.