Cowen and Company set a $28.00 target price on Oceaneering International, Inc. (NYSE:OII) in a report released on Friday morning. The brokerage currently has a hold rating on the oil and gas company’s stock.
Other equities analysts have also issued reports about the company. Scotiabank set a $37.00 price target on Oceaneering International and gave the stock a buy rating in a report on Tuesday, June 13th. Piper Jaffray Companies set a $26.00 price objective on Oceaneering International and gave the stock a buy rating in a research report on Sunday, July 30th. Jefferies Group LLC reiterated a hold rating and issued a $25.00 price objective on shares of Oceaneering International in a research report on Monday, June 19th. Zacks Investment Research upgraded Oceaneering International from a sell rating to a hold rating in a research report on Saturday, July 15th. Finally, BidaskClub upgraded Oceaneering International from a sell rating to a hold rating in a research report on Wednesday, July 19th. 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. The company currently has an average rating of Hold and an average price target of $28.50.
Shares of Oceaneering International (NYSE OII) traded up 1.68% during trading on Friday, reaching $26.04. The company’s stock had a trading volume of 1,483,575 shares. The stock’s market cap is $2.57 billion. Oceaneering International has a 52-week low of $20.74 and a 52-week high of $32.12. The stock has a 50-day moving average of $23.62 and a 200-day moving average of $25.85.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The firm had revenue of $515.04 million during the quarter, compared to analyst estimates of $481.86 million. During the same period last year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. Analysts predict that Oceaneering International will post ($0.04) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a dividend yield of 2.30%. Oceaneering International’s payout ratio is presently -206.90%.
Several hedge funds have recently bought and sold shares of OII. Tocqueville Asset Management L.P. boosted its stake in Oceaneering International by 5.6% in the second quarter. Tocqueville Asset Management L.P. now owns 413,400 shares of the oil and gas company’s stock valued at $9,442,000 after buying an additional 21,897 shares during the last quarter. Cadence Capital Management LLC boosted its stake in Oceaneering International by 17.7% in the second quarter. Cadence Capital Management LLC now owns 18,192 shares of the oil and gas company’s stock valued at $416,000 after buying an additional 2,732 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in Oceaneering International by 0.3% in the second quarter. Deprince Race & Zollo Inc. now owns 735,570 shares of the oil and gas company’s stock valued at $16,800,000 after buying an additional 2,254 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Oceaneering International by 208.3% in the second quarter. BNP Paribas Arbitrage SA now owns 112,335 shares of the oil and gas company’s stock valued at $2,566,000 after buying an additional 75,895 shares during the last quarter. Finally, Comerica Bank boosted its stake in Oceaneering International by 2.0% in the second quarter. Comerica Bank now owns 143,997 shares of the oil and gas company’s stock valued at $3,548,000 after buying an additional 2,777 shares during the last quarter. 98.37% of the stock is currently owned by institutional investors.
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).
Receive News & Ratings for Oceaneering International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oceaneering International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
