Oceaneering International (NYSE:OII) shares saw unusually-high trading volume on Monday . Approximately 1,940,409 shares changed 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.
OII has been the subject of several recent research reports. Bank of America assumed coverage on Oceaneering International in a research note on Tuesday, November 12th. They issued a “buy” rating and a $17.00 price target for the company. Citigroup lowered their price objective on Oceaneering International from $22.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Wolfe Research initiated coverage on Oceaneering International in a report on Wednesday, November 27th. They set an “outperform” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.08.
The company has a debt-to-equity ratio of 0.74, a current ratio of 2.29 and a quick ratio of 1.90. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -18.99 and a beta of 2.18. The business’s 50-day moving average price is $13.84 and its two-hundred day moving average price is $15.28.
Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.08). The company had revenue of $497.65 million for the quarter, compared to the consensus estimate of $527.81 million. Oceaneering International had a negative return on equity of 5.69% and a negative net margin of 7.55%. Oceaneering International’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) EPS. As a group, research analysts predict that Oceaneering International will post -1.02 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Cerebellum GP LLC bought a new position in Oceaneering International in the 3rd quarter worth approximately $32,000. Fisher Asset Management LLC raised its holdings in shares of Oceaneering International by 1.1% during the 2nd quarter. Fisher Asset Management LLC now owns 3,594,899 shares of the oil and gas company’s stock valued at $73,300,000 after buying an additional 38,087 shares in the last quarter. Van ECK Associates Corp lifted its position in Oceaneering International by 56.1% in 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 buying an additional 647,261 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Oceaneering International by 3,062.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,190,951 shares of the oil and gas company’s stock worth $16,137,000 after buying an additional 1,153,290 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Oceaneering International by 4.0% in the third quarter. Rhumbline Advisers now owns 324,966 shares of the oil and gas company’s stock worth $4,403,000 after buying an additional 12,394 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.
Oceaneering International Company Profile (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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