Oceaneering International Inc. (OII) Rating Lowered to Sell at TheStreet
Oceaneering International Inc. (NYSE:OII) was downgraded by research analysts at TheStreet from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
OII has been the subject of a number of other research reports. Seaport Global Securities reissued an “accumulate” rating on shares of Oceaneering International in a report on Friday, August 19th. Royal Bank Of Canada lowered their target price on Oceaneering International from $32.00 to $28.00 and set a “sector perform” rating for the company in a report on Thursday, September 15th. Loop Capital began coverage on Oceaneering International in a report on Friday, September 30th. They issued a “buy” rating for the company. RBC Capital Markets set a $28.00 target price on Oceaneering International and gave the stock a “hold” rating in a report on Thursday, September 15th. Finally, Zacks Investment Research cut Oceaneering International from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.97.
Oceaneering International (NYSE:OII) opened at 26.65 on Tuesday. The stock’s 50 day moving average price is $25.37 and its 200 day moving average price is $28.15. Oceaneering International has a 12-month low of $22.47 and a 12-month high of $42.77. The company has a market cap of $2.61 billion, a PE ratio of 41.77 and a beta of 1.56.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Oceaneering International had a return on equity of 8.17% and a net margin of 2.52%. The company earned $549 million during the quarter, compared to analysts’ expectations of $344 million. During the same quarter in the previous year, the firm earned $0.70 EPS. Oceaneering International’s revenue was down 26.1% on a year-over-year basis. Equities research analysts anticipate that Oceaneering International will post $0.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 25th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.60 annualized dividend and a yield of 2.25%. Oceaneering International’s payout ratio is currently 92.31%.
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In other Oceaneering International news, SVP John R. Kreider sold 3,501 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $23.74, for a total value of $83,113.74. Following the transaction, the senior vice president now owns 34,616 shares in the company, valued at $821,783.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in OII. IndexIQ Advisors LLC purchased a new position in shares of Oceaneering International during the third quarter valued at about $111,000. Acrospire Investment Management LLC raised its position in Oceaneering International by 77.3% in the second quarter. Acrospire Investment Management LLC now owns 3,900 shares of the company’s stock worth $116,000 after buying an additional 1,700 shares in the last quarter. Creative Planning raised its position in Oceaneering International by 328.9% in the third quarter. Creative Planning now owns 6,189 shares of the company’s stock worth $170,000 after buying an additional 4,746 shares in the last quarter. LS Investment Advisors LLC raised its position in Oceaneering International by 7.1% in the third quarter. LS Investment Advisors LLC now owns 6,257 shares of the company’s stock worth $172,000 after buying an additional 413 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new position in Oceaneering International during the second quarter worth $173,000. Institutional investors and hedge funds own 99.92% 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).
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