Oceaneering International, Inc. Declares Quarterly Dividend of $0.15 (NYSE:OII)

Oceaneering International, Inc. (NYSE:OII) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Investors of record on Friday, August 25th will be given a dividend of 0.15 per share by the oil and gas company on Friday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Wednesday, August 23rd.

Oceaneering International has raised its dividend by an average of 4.6% annually over the last three years. Oceaneering International has a dividend payout ratio of -2,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Oceaneering International to earn $0.11 per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of 545.5%.

Oceaneering International (NYSE:OII) traded up 1.68% during mid-day trading on Friday, hitting $26.04. The company had a trading volume of 1,483,575 shares. The company’s market capitalization is $2.57 billion. Oceaneering International has a 52 week low of $20.74 and a 52 week high of $32.12. The firm’s 50 day moving average is $23.62 and its 200 day moving average is $25.85.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. The company had revenue of $515.04 million during the quarter, compared to the consensus estimate of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. Oceaneering International’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, equities research analysts predict that Oceaneering International will post ($0.04) EPS for the current year.

OII has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Saturday, July 15th. Royal Bank Of Canada restated a “sell” rating and set a $30.00 price target on shares of Oceaneering International in a report on Friday, April 21st. Morgan Stanley downgraded shares of Oceaneering International from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $33.00 to $28.00 in a report on Wednesday, June 21st. Scotiabank set a $37.00 price target on shares of Oceaneering International and gave the stock a “buy” rating in a report on Tuesday, June 13th. Finally, Wolfe Research cut shares of Oceaneering International from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.50.

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).