Bank of America assumed coverage on shares of Oceaneering International (NYSE:OII) in a research report sent to investors on Tuesday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $17.00 target price on the oil and gas company’s stock.
OII has been the topic of several other reports. Citigroup lowered their target price on Oceaneering International from $22.00 to $14.00 and set a neutral rating on the stock in a research note on Thursday, August 15th. Royal Bank of Canada set a $20.00 target price on Oceaneering International and gave the company a buy rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Oceaneering International currently has a consensus rating of Hold and a consensus target price of $18.09.
Shares of OII traded up $0.28 during mid-day trading on Tuesday, hitting $13.72. The stock had a trading volume of 756,310 shares, compared to its average volume of 2,321,105. The firm has a market cap of $1.33 billion, a P/E ratio of -19.32 and a beta of 2.18. The business has a fifty day moving average price of $13.78 and a 200-day moving average price of $15.74. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.29 and a quick ratio of 1.90. Oceaneering International has a 52 week low of $10.74 and a 52 week high of $21.29.
Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 30th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.08). The firm had revenue of $497.65 million during the quarter, compared to the consensus estimate of $527.81 million. Oceaneering International had a negative net margin of 7.55% and a negative return on equity of 5.69%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, research analysts expect that Oceaneering International will post -1.02 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Great Lakes Advisors LLC purchased a new position in shares of Oceaneering International in the third quarter valued at $6,415,000. BBVA USA Bancshares Inc. grew its position in shares of Oceaneering International by 22.5% in the third quarter. BBVA USA Bancshares Inc. now owns 15,858 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 2,916 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Oceaneering International by 100.4% in the third quarter. SG Americas Securities LLC now owns 50,256 shares of the oil and gas company’s stock valued at $681,000 after purchasing an additional 25,183 shares in the last quarter. Tibra Equities Europe Ltd purchased a new position in shares of Oceaneering International in the third quarter valued at $356,000. Finally, Gabelli Funds LLC grew its position in shares of Oceaneering International by 2.1% in the third quarter. Gabelli Funds LLC now owns 245,600 shares of the oil and gas company’s stock valued at $3,328,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 95.55% of the company’s stock.
Oceaneering International Company Profile
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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