Oceaneering International Inc. (NYSE:OII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.
According to Zacks, “OCEANEERING INTERNATIONAL, INC. is an advanced applied technology company that provides engineered services and hardware to customers who operate in marine, space and other harsh environments. The company supplies a comprehensive range of integrated technical services to a wide array of industries and is one of the world’s largest underwater services contractors. “
Other equities analysts have also issued research reports about the company. Wells Fargo & Co. assumed coverage on Oceaneering International in a report on Tuesday, October 18th. They set a “market perform” rating on the stock. Citigroup Inc. began coverage on Oceaneering International in a report on Tuesday, September 27th. They set a “neutral” rating and a $27.00 price target on the stock. RBC Capital Markets set a $28.00 price target on Oceaneering International and gave the stock a “hold” rating in a report on Thursday, September 15th. Loop Capital began coverage on Oceaneering International in a report on Friday, September 30th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada lowered their price target on Oceaneering International from $32.00 to $28.00 and set a “sector perform” rating on the stock in a report on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Oceaneering International currently has an average rating of “Hold” and a consensus price target of $33.97.
Oceaneering International (NYSE:OII) opened at 25.81 on Friday. The stock has a market capitalization of $2.53 billion, a P/E ratio of 40.45 and a beta of 1.56. The company’s 50-day moving average price is $25.57 and its 200 day moving average price is $28.33. Oceaneering International has a 52 week low of $22.47 and a 52 week high of $44.39.
Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $549 million for the quarter, compared to analyst estimates of $344 million. Oceaneering International had a return on equity of 8.17% and a net margin of 2.52%. The business’s quarterly revenue was down 26.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. Equities research analysts expect that Oceaneering International will post $0.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 25th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 2.32%. Oceaneering International’s dividend payout ratio is currently 92.31%.
In related news, SVP John R. Kreider sold 3,501 shares of Oceaneering International stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $23.74, for a total transaction of $83,113.74. Following the completion of the transaction, the senior vice president now directly owns 34,616 shares in the company, valued at approximately $821,783.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. IndexIQ Advisors LLC bought a new position in shares of Oceaneering International during the third quarter valued at about $111,000. Acrospire Investment Management LLC increased its position in shares of Oceaneering International by 77.3% in the second quarter. Acrospire Investment Management LLC now owns 3,900 shares of the company’s stock valued at $116,000 after buying an additional 1,700 shares in the last quarter. Creative Planning increased its position in shares of Oceaneering International by 328.9% in the third quarter. Creative Planning now owns 6,189 shares of the company’s stock valued at $170,000 after buying an additional 4,746 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Oceaneering International by 7.1% in the third quarter. LS Investment Advisors LLC now owns 6,257 shares of the company’s stock valued at $172,000 after buying an additional 413 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new position in shares of Oceaneering International during the second quarter valued at about $173,000. Hedge funds and other institutional investors own 94.11% of the company’s stock.
About Oceaneering International
Oceaneering International, Inc is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deep water applications. The Company’s business segments include services and products provided to the oil and gas industry (Oilfield), and all other services and products (Advanced Technologies).