Oceaneering International Inc. (OII) Sees Unusually-High Trading Volume
Oceaneering International Inc. (NYSE:OII) saw unusually-high trading volume on Monday . Approximately 1,620,344 shares changed hands during trading, a decline of 4% from the previous session’s volume of 1,683,999 shares.The stock last traded at $27.25 and had previously closed at $28.96.
Several equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $38.00 price target on shares of Oceaneering International in a report on Wednesday, April 6th. Morgan Stanley boosted their price target 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. Societe Generale upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Friday, April 29th. Zacks Investment Research upgraded shares of Oceaneering International from a “strong sell” rating to a “hold” rating in a report on Saturday, April 30th. Finally, Cowen and Company restated a “hold” rating on shares of Oceaneering International in a report on Monday, May 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Oceaneering International presently has a consensus rating of “Hold” and a consensus price target of $37.50.
The firm has a market cap of $2.68 billion and a price-to-earnings ratio of 18.67. The firm’s 50 day moving average price is $30.88 and its 200-day moving average price is $31.53.
Oceaneering International (NYSE:OII) last posted its earnings results on Thursday, July 21st. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $625.50 million for the quarter, compared to analysts’ expectations of $604.16 million. Equities analysts expect that Oceaneering International Inc. will post $0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, August 26th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.97%.
In other Oceaneering International news, Director T Jay Collins sold 20,000 shares of the business’s 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 sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen P. Barrett bought 1,000 shares of Oceaneering International stock in a transaction on Wednesday, June 29th. The shares were acquired at an average cost of $28.91 per share, for a total transaction of $28,910.00. Following the completion of the acquisition, the vice president now directly owns 21,718 shares in the company, valued at $627,867.38. The disclosure for this purchase can be found here.
A number of large investors have bought and sold shares of OII. Airain ltd raised its stake in Oceaneering International by 436.7% in the fourth quarter. Airain ltd now owns 41,050 shares of the company’s stock worth $1,540,000 after buying an additional 33,401 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Oceaneering International by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 315,133 shares of the company’s stock worth $11,824,000 after buying an additional 7,693 shares during the period. Bank of Montreal Can increased its position in shares of Oceaneering International by 1,556.0% in the fourth quarter. Bank of Montreal Can now owns 956,640 shares of the company’s stock worth $35,894,000 after buying an additional 898,872 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Oceaneering International by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,368 shares of the company’s stock worth $1,064,000 after buying an additional 121 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Oceaneering International by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 7,137,581 shares of the company’s stock worth $267,802,000 after buying an additional 124,727 shares during the period.
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).
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