Oceaneering International, Inc. (OII) Shares Up 6%
Oceaneering International, Inc. (NYSE:OII)’s share price shot up 6% during trading on Tuesday . The stock traded as high as $22.08 and last traded at $22.04. 2,104,111 shares were traded during mid-day trading, an increase of 13% from the average session volume of 1,870,000 shares. The stock had previously closed at $20.80.
Several research firms recently commented on OII. Cowen and Company set a $28.00 price objective on Oceaneering International and gave the company a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies set a $26.00 target price on shares of Oceaneering International and gave the company a “buy” rating in a report on Sunday, July 30th. Deutsche Bank AG initiated coverage on shares of Oceaneering International in a report on Tuesday, October 10th. They set a “hold” rating and a $28.00 target price on the stock. Scotiabank set a $37.00 target price on shares of Oceaneering International and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Barclays PLC initiated coverage on shares of Oceaneering International in a report on Friday, October 6th. They set an “equal weight” rating and a $28.00 target price on the stock. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. Oceaneering International currently has an average rating of “Hold” and an average target price of $24.84.
The company has a market cap of $2,122.83, a PE ratio of 720.00 and a beta of 1.64. The company has a quick ratio of 2.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.53.
Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Oceaneering International had a positive return on equity of 0.21% and a negative net margin of 0.94%. The company had revenue of $476.12 million during the quarter, compared to analysts’ expectations of $511.14 million. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue was down 13.3% on a year-over-year basis. analysts predict that Oceaneering International, Inc. will post -0.08 earnings per share for the current fiscal year.
In related news, VP W Cardon Gerner sold 2,000 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $25.76, for a total value of $51,520.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.91% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Oceaneering International by 10,555.3% in the first quarter. BlackRock Inc. now owns 8,513,376 shares of the oil and gas company’s stock worth $230,542,000 after acquiring an additional 8,433,478 shares in the last quarter. Vanguard Group Inc. boosted its position in Oceaneering International by 1.0% during the second quarter. Vanguard Group Inc. now owns 8,459,942 shares of the oil and gas company’s stock valued at $193,226,000 after buying an additional 81,313 shares during the period. Dimensional Fund Advisors LP boosted its position in Oceaneering International by 39.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,205,338 shares of the oil and gas company’s stock valued at $96,049,000 after buying an additional 1,190,224 shares during the period. Eaton Vance Management boosted its position in Oceaneering International by 20.4% during the second quarter. Eaton Vance Management now owns 3,068,529 shares of the oil and gas company’s stock valued at $70,085,000 after buying an additional 519,289 shares during the period. Finally, State Street Corp boosted its position in Oceaneering International by 0.7% during the first quarter. State Street Corp now owns 2,995,000 shares of the oil and gas company’s stock valued at $81,101,000 after buying an additional 21,246 shares during the period. Institutional investors own 99.64% of the company’s stock.
About Oceaneering International
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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