Oceaneering International Inc. (OII) Trading Down 3.3%
Oceaneering International Inc. (NYSE:OII)’s share price fell 3.3% on Thursday . The stock traded as low as $25.65 and last traded at $25.65, with a volume of 970,280 shares trading hands. The stock had previously closed at $26.52.
A number of equities research analysts have issued reports on the company. Credit Suisse Group AG restated a “hold” rating and set a $27.00 price objective on shares of Oceaneering International in a research report on Thursday, June 2nd. JPMorgan Chase & Co. started coverage on Oceaneering International in a research report on Wednesday, June 22nd. They issued an “underweight” rating and a $23.00 price target for the company. Evercore ISI lowered Oceaneering International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $36.00 to $28.00 in a research report on Wednesday, June 29th. Zacks Investment Research lowered Oceaneering International from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Oceaneering International in a research report on Tuesday, July 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Oceaneering International presently has an average rating of “Hold” and an average price target of $37.50.
The stock’s 50-day moving average price is $28.19 and its 200-day moving average price is $30.81. The firm has a market capitalization of $2.54 billion and a P/E ratio of 17.78.
Oceaneering International (NYSE:OII) last posted its earnings results on Thursday, July 21st. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $625.50 million for the quarter, compared to analyst estimates of $604.16 million. Analysts anticipate that Oceaneering International Inc. will post $0.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, August 26th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $1.08 annualized dividend and a yield of 4.17%.
In other news, VP Stephen P. Barrett purchased 1,000 shares of the stock in a transaction dated Wednesday, June 29th. The stock was acquired at an average price of $28.91 per share, for a total transaction of $28,910.00. Following the completion of the transaction, the vice president now owns 21,718 shares of the company’s stock, valued at $627,867.38. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
A hedge fund recently raised its stake in Oceaneering International stock. Principal Financial Group Inc. boosted its position in shares of Oceaneering International Inc. (NYSE:OII) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,133 shares of the company’s stock after buying an additional 7,693 shares during the period. Principal Financial Group Inc. owned approximately 0.32% of Oceaneering International worth $11,824,000 as of its most recent SEC filing.
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.