Oceaneering International (NYSE:OII) Receives Average Rating of “Hold” from Brokerages

Oceaneering International (NYSE:OII) has earned a consensus rating of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $52.08.

A number of equities research analysts have weighed in on OII shares. KLR Group started coverage on shares of Oceaneering International in a report on Monday, December 14th. They issued an “accumulate” rating and a $49.00 price objective on the stock. Jefferies Group restated a “hold” rating and issued a $56.00 price objective (down previously from $68.00) on shares of Oceaneering International in a report on Thursday, December 3rd. Howard Weil cut their price objective on shares of Oceaneering International from $55.00 to $53.00 in a report on Thursday, September 17th. Zacks Investment Research upgraded shares of Oceaneering International from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 17th. Finally, Cowen and Company cut shares of Oceaneering International from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $47.00 to $40.00 in a report on Friday, October 30th.

Oceaneering International (NYSE:OII) traded up 1.39% during midday trading on Monday, hitting $38.04. 213,953 shares of the company were exchanged. The stock has a market capitalization of $3.72 billion and a price-to-earnings ratio of 12.43. Oceaneering International has a 1-year low of $36.87 and a 1-year high of $59.65. The stock has a 50 day moving average of $40.85 and a 200-day moving average of $42.60.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business earned $743.60 million during the quarter, compared to analysts’ expectations of $794.08 million. Oceaneering International’s revenue for the quarter was down 23.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. Equities analysts expect that Oceaneering International will post $2.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 18th. Shareholders of record on Friday, November 27th were given a $0.27 dividend. The ex-dividend date was Tuesday, November 24th. This represents a $1.08 annualized dividend and a yield of 2.88%.

In other news, Director John R. Huff sold 200,000 shares of the firm’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $44.17, for a total transaction of $8,834,000.00. Following the sale, the director now directly owns 78,196 shares in the company, valued at approximately $3,453,917.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A hedge fund recently raised its stake in Oceaneering International stock. Eagle Asset Management raised its position in Oceaneering International (NYSE:OII) by 89.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,872,606 shares of the company’s stock after buying an additional 886,712 shares during the period. Eagle Asset Management owned 1.91% of Oceaneering International worth $73,554,000 at the end of the most recent quarter.

12 Month Chart for NYSE:OII

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 are contained within two businesses, such as services and products provided to the oil and gas industry (NYSE:OII) and all other services and products (Advanced Technologies). The Company’s four business segments within the Oil and Gas business includes Remotely Operated Vehicles (ROVs), Subsea Products, Subsea Projects and Asset Integrity. The Company also provides remote asset management software services. The Company provides services and products, such as remotely operated vehicles, specialty subsea hardware, engineering and project management, subsea intervention services, including manned diving, and asset integrity and non-destructive testing services. The Company’s foreign operations are principally focused in the North Sea, Africa, Brazil, Australia and Asia.

 

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