Oceaneering International (NYSE:OII) shares saw strong trading volume on Monday . 1,940,409 shares traded hands during trading, an increase of 53% from the previous session’s volume of 1,268,665 shares.The stock last traded at $13.56 and had previously closed at $13.41.
Several research analysts recently issued reports on OII shares. Citigroup dropped their price target on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Wolfe Research began coverage on Oceaneering International in a report on Wednesday, November 27th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, Bank of America began coverage on Oceaneering International in a report on Tuesday, November 12th. They set a “buy” rating and a $17.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.08.
The firm’s 50-day moving average is $13.84 and its two-hundred day moving average is $15.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.90 and a current ratio of 2.29. The stock has a market cap of $1.33 billion, a P/E ratio of -18.99 and a beta of 2.18.
Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, October 30th. The oil and gas company reported ($0.30) 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 analyst estimates of $527.81 million. Oceaneering International had a negative net margin of 7.55% and a negative return on equity of 5.69%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the business posted ($0.14) earnings per share. As a group, research analysts forecast that Oceaneering International will post -1.02 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of OII. Oregon Public Employees Retirement Fund boosted its holdings in shares of Oceaneering International by 1.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 39,480 shares of the oil and gas company’s stock valued at $805,000 after buying an additional 565 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Oceaneering International by 1.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 60,644 shares of the oil and gas company’s stock worth $1,237,000 after purchasing an additional 740 shares during the period. Arizona State Retirement System boosted its stake in Oceaneering International by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 71,800 shares of the oil and gas company’s stock worth $1,464,000 after purchasing an additional 828 shares during the period. Bank of Montreal Can boosted its stake in Oceaneering International by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 48,313 shares of the oil and gas company’s stock worth $986,000 after purchasing an additional 1,002 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Oceaneering International by 6.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,381 shares of the oil and gas company’s stock worth $354,000 after purchasing an additional 1,055 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.
About Oceaneering International (NYSE:OII)
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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