Piper Jaffray Companies downgraded shares of Oceaneering International, Inc. (NYSE:OII) from an overweight rating to a neutral rating in a report published on Friday, October 27th, Marketbeat.com reports.
A number of other research firms have also recently weighed in on OII. Cowen and Company reissued a hold rating and issued a $25.00 price objective on shares of Oceaneering International in a research report on Tuesday, July 11th. BidaskClub lowered Oceaneering International from a hold rating to a sell rating in a research note on Monday, August 14th. Zacks Investment Research lowered Oceaneering International from a hold rating to a sell rating in a research note on Wednesday, July 5th. ValuEngine lowered Oceaneering International from a hold rating to a sell rating in a research note on Thursday, October 26th. Finally, Seaport Global Securities restated a neutral rating on shares of Oceaneering International in a report on Thursday, July 20th. Six investment 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 a consensus rating of Hold and an average target price of $24.84.
Oceaneering International (OII) traded down $0.66 during mid-day trading on Friday, hitting $20.68. The stock had a trading volume of 1,646,500 shares, compared to its average volume of 1,393,742. The stock has a market capitalization of $2,097.27, a PE ratio of 711.33 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 has a 52-week low of $17.11 and a 52-week high of $32.12.
Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $476.12 million during the quarter, compared to the consensus estimate of $511.14 million. During the same period last year, the company earned $0.17 EPS. The business’s revenue was down 13.3% on a year-over-year basis. analysts expect that Oceaneering International will post -0.08 EPS for the current year.
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In other news, VP W Cardon Gerner sold 2,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $25.76, for a total transaction of $51,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Utah Retirement Systems lifted its position in Oceaneering International by 1.1% in the second quarter. Utah Retirement Systems now owns 17,982 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 200 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Oceaneering International by 4.0% during the 1st quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 300 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Oceaneering International by 3.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock worth $242,000 after purchasing an additional 330 shares in the last quarter. Amalgamated Bank increased its stake in shares of Oceaneering International by 2.9% during the 1st quarter. Amalgamated Bank now owns 15,522 shares of the oil and gas company’s stock worth $420,000 after purchasing an additional 439 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of Oceaneering International by 4.9% during the 2nd quarter. Capstone Asset Management Co. now owns 12,128 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other 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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