SunTrust Banks set a $24.00 price objective on Oceaneering International (NYSE:OII) in a research note released on Tuesday morning, The Fly reports. The brokerage currently has a hold rating on the oil and gas company’s stock. SunTrust Banks also issued estimates for Oceaneering International’s Q3 2019 earnings at $0.01 EPS and Q4 2019 earnings at ($0.01) EPS. The analysts noted that the move was a valuation call.

Other analysts have also recently issued reports about the company. Gabelli raised Oceaneering International from a hold rating to a buy rating and set a $37.00 price target for the company in a report on Monday, July 30th. Societe Generale raised Oceaneering International from a hold rating to a buy rating and set a $32.00 price target for the company in a report on Friday, October 12th. Zacks Investment Research raised Oceaneering International from a hold rating to a buy rating and set a $30.00 price target for the company in a report on Monday, July 16th. ValuEngine raised Oceaneering International from a hold rating to a buy rating in a report on Friday, June 22nd. Finally, Royal Bank of Canada reissued a buy rating and issued a $28.00 price target on shares of Oceaneering International in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $25.93.

OII opened at $26.26 on Tuesday. The company has a quick ratio of 2.17, a current ratio of 2.61 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $2.72 billion, a PE ratio of -375.14 and a beta of 1.37. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $28.62.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. The business had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $448.96 million. Oceaneering International had a negative return on equity of 4.31% and a net margin of 4.83%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. As a group, research analysts forecast that Oceaneering International will post -1.01 EPS for the current fiscal year.

In related news, Director T Jay Collins sold 16,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total value of $443,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OII. Glen Harbor Capital Management LLC increased its position in Oceaneering International by 20.5% during the second quarter. Glen Harbor Capital Management LLC now owns 12,562 shares of the oil and gas company’s stock worth $320,000 after buying an additional 2,134 shares in the last quarter. Riverhead Capital Management LLC increased its position in Oceaneering International by 20.1% during the second quarter. Riverhead Capital Management LLC now owns 14,352 shares of the oil and gas company’s stock worth $365,000 after buying an additional 2,400 shares in the last quarter. Sei Investments Co. increased its position in Oceaneering International by 3.1% during the second quarter. Sei Investments Co. now owns 102,672 shares of the oil and gas company’s stock worth $2,614,000 after buying an additional 3,049 shares in the last quarter. Raymond James & Associates increased its position in Oceaneering International by 3.5% during the second quarter. Raymond James & Associates now owns 90,584 shares of the oil and gas company’s stock worth $2,306,000 after buying an additional 3,102 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in Oceaneering International by 11.5% during the second quarter. Alps Advisors Inc. now owns 32,334 shares of the oil and gas company’s stock worth $823,000 after buying an additional 3,322 shares in the last quarter.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Analyst Recommendations for Oceaneering International (NYSE:OII)

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