Oceaneering International (NYSE:OII) – Equities researchers at Seaport Global Securities lowered their Q3 2019 earnings per share estimates for Oceaneering International in a research report issued on Monday, August 26th. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas company will earn ($0.29) per share for the quarter, down from their prior estimate of ($0.13). Seaport Global Securities has a “Buy” rating and a $23.00 price target on the stock. Seaport Global Securities also issued estimates for Oceaneering International’s Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($1.00) EPS, Q1 2020 earnings at ($0.29) EPS, Q2 2020 earnings at ($0.13) EPS and FY2020 earnings at ($0.30) EPS.
Several other equities research analysts also recently weighed in on OII. Cowen reiterated a “market perform” rating and set a $19.00 target price (up previously from $16.00) on shares of Oceaneering International in a research note on Friday, May 3rd. Citigroup decreased their target price on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada set a $20.00 target price on shares of Oceaneering International and gave the stock a “buy” rating in a research note on Friday, July 26th. ValuEngine downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Barclays reiterated a “buy” rating and set a $21.00 target price on shares of Oceaneering International in a research note on Sunday, May 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.20.
Shares of OII opened at $13.18 on Thursday. Oceaneering International has a fifty-two week low of $10.74 and a fifty-two week high of $28.62. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -18.56 and a beta of 2.14. The firm has a 50-day simple moving average of $14.93 and a 200-day simple moving average of $16.58. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.43.
Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.07). Oceaneering International had a negative return on equity of 4.38% and a negative net margin of 9.49%. The business had revenue of $495.78 million for the quarter, compared to analyst estimates of $524.97 million. During the same quarter last year, the company posted ($0.23) EPS. Oceaneering International’s quarterly revenue was up 3.6% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of OII. FMR LLC increased its stake in shares of Oceaneering International by 8.7% during the 1st quarter. FMR LLC now owns 12,466,488 shares of the oil and gas company’s stock worth $196,597,000 after purchasing an additional 1,001,484 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Oceaneering International by 56.1% during the 2nd quarter. Van ECK Associates Corp now owns 1,800,526 shares of the oil and gas company’s stock worth $36,713,000 after purchasing an additional 647,261 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Oceaneering International during the 2nd quarter worth approximately $11,702,000. Majedie Asset Management Ltd increased its stake in shares of Oceaneering International by 38.2% during the 1st quarter. Majedie Asset Management Ltd now owns 2,054,214 shares of the oil and gas company’s stock worth $32,422,000 after purchasing an additional 568,311 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Oceaneering International by 83.2% during the 2nd quarter. Prudential Financial Inc. now owns 1,187,229 shares of the oil and gas company’s stock worth $24,208,000 after purchasing an additional 539,255 shares in the last quarter. 94.22% of the stock is owned by institutional investors and hedge funds.
About Oceaneering International
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to 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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