Analysts Offer Predictions for Oceaneering International, Inc.’s Q2 2018 Earnings (OII)
Oceaneering International, Inc. (NYSE:OII) – SunTrust Banks reduced their Q2 2018 earnings estimates for Oceaneering International in a research note issued on Friday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will earn $0.02 per share for the quarter, down from their previous forecast of $0.04. SunTrust Banks also issued estimates for Oceaneering International’s Q3 2018 earnings at $0.07 EPS and Q4 2018 earnings at $0.04 EPS.
Several other brokerages also recently weighed in on OII. Zacks Investment Research downgraded Oceaneering International from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Jefferies Group LLC restated a “hold” rating and set a $25.00 target price on shares of Oceaneering International in a research note on Tuesday, April 11th. Scotiabank restated a “buy” rating and set a $37.00 target price on shares of Oceaneering International in a research note on Friday, April 28th. Cowen and Company set a $28.00 target price on Oceaneering International and gave the stock a “hold” rating in a research note on Friday, August 4th. Finally, Royal Bank Of Canada restated a “sell” rating and set a $30.00 target price on shares of Oceaneering International in a research note on Friday, April 21st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.50.
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Shares of Oceaneering International (OII) traded down 0.916% on Monday, hitting $24.335. The stock had a trading volume of 327,889 shares. The company’s market cap is $2.40 billion. The company’s 50 day moving average price is $23.68 and its 200-day moving average price is $25.84. Oceaneering International has a 12 month low of $20.74 and a 12 month high of $32.12.
Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $515.04 million for the quarter, compared to the consensus estimate of $481.86 million. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share.
Several institutional investors have recently modified their holdings of OII. JPMorgan Chase & Co. boosted its position in shares of Oceaneering International by 379.9% in the second quarter. JPMorgan Chase & Co. now owns 262,217 shares of the oil and gas company’s stock valued at $5,989,000 after buying an additional 355,890 shares during the period. Cipher Capital LP bought a new position in shares of Oceaneering International during the second quarter valued at about $283,000. Swiss National Bank boosted its position in shares of Oceaneering International by 2.0% in the second quarter. Swiss National Bank now owns 164,448 shares of the oil and gas company’s stock valued at $3,756,000 after buying an additional 3,300 shares during the period. Eagle Boston Investment Management Inc. boosted its position in shares of Oceaneering International by 0.5% in the second quarter. Eagle Boston Investment Management Inc. now owns 192,609 shares of the oil and gas company’s stock valued at $4,399,000 after buying an additional 986 shares during the period. Finally, Pacad Investment Ltd. boosted its position in shares of Oceaneering International by 231.3% in the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 3,700 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 2.44%. Oceaneering International’s dividend payout ratio is currently -206.90%.
Oceaneering International Company Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
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