Oceaneering International Inc. (OII) Trading 6.7% Higher
Shares of Oceaneering International Inc. (NYSE:OII) traded up 6.7% during mid-day trading on Tuesday . The stock traded as high as $31.49 and last traded at $31.42, with a volume of 692,570 shares traded. The stock had previously closed at $29.44.
Several analysts have issued reports on the stock. Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of Oceaneering International in a research note on Wednesday, April 6th. Cowen and Company raised their price objective on shares of Oceaneering International from $25.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, May 2nd. Zacks Investment Research raised shares of Oceaneering International from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 30th. Jefferies Group reissued a “hold” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Oceaneering International in a research note on Monday. Finally, Evercore ISI downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $36.00 to $28.00 in a research note on Wednesday, June 29th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Oceaneering International currently has an average rating of “Hold” and a consensus target price of $37.71.
The stock has a 50-day moving average of $31.53 and a 200-day moving average of $31.96. The stock has a market cap of $3.01 billion and a price-to-earnings ratio of 16.18.
Oceaneering International (NYSE:OII) last released 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 business had revenue of $608.34 million for the quarter, compared to analysts’ expectations of $641.85 million. During the same period last year, the firm posted $0.70 EPS. Oceaneering International’s revenue was down 22.7% compared to the same quarter last year. On average, equities research analysts anticipate that Oceaneering International Inc. will post $1.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, May 27th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, May 25th. This represents a $1.08 annualized dividend and a dividend yield of 3.52%.
In other Oceaneering International news, Director T Jay Collins sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $33.04, for a total value of $660,800.00. Following the completion of the sale, the director now directly owns 42,252 shares of the company’s stock, valued at approximately $1,396,006.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen P. Barrett purchased 1,000 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was acquired 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 directly owns 21,718 shares in the company, valued at approximately $627,867.38. The disclosure for this purchase can be found here.
A number of large investors have modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake 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 last quarter. Engineers Gate Manager LP acquired a new stake in shares of Oceaneering International during the fourth quarter worth $1,671,000. Comerica Bank increased its stake in shares of Oceaneering International by 1.7% in the fourth quarter. Comerica Bank now owns 73,133 shares of the company’s stock worth $2,479,000 after buying an additional 1,227 shares during the last quarter. Russell Frank Co increased 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 worth $5,265,000 after buying an additional 27,667 shares during the last quarter. Finally, Swiss National Bank increased 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 worth $6,660,000 after buying an additional 1,700 shares during the last quarter.
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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