Deutsche Bank AG started coverage on shares of Oceaneering International, Inc. (NYSE:OII) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $28.00 price target on the oil and gas company’s stock.
OII has been the topic of a number of other research reports. Barclays PLC initiated coverage on shares of Oceaneering International in a research report on Friday, October 6th. They issued an equal weight rating and a $28.00 price objective on the stock. Piper Jaffray Companies reissued an overweight rating and issued a $28.00 price objective (up previously from $26.00) on shares of Oceaneering International in a research report on Tuesday, October 3rd. Royal Bank Of Canada reissued a sell rating and issued a $25.00 price objective on shares of Oceaneering International in a research report on Thursday, July 20th. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the stock a buy rating in a research report on Friday, July 28th. Finally, ValuEngine raised shares of Oceaneering International from a sell rating to a hold rating in a research report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Oceaneering International has a consensus rating of Hold and an average target price of $28.75.
Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The business had revenue of $515.04 million for the quarter, compared to analyst estimates of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.37%. The ex-dividend date was Wednesday, August 23rd. Oceaneering International’s dividend payout ratio is presently -206.90%.
In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the director now owns 16,600 shares in the company, valued at approximately $437,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Westpac Banking Corp purchased a new position in shares of Oceaneering International in the 1st quarter worth approximately $144,000. Pacad Investment Ltd. boosted its holdings in shares of Oceaneering International by 231.3% in the 2nd quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 3,700 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of Oceaneering International by 18.4% in the 2nd quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock worth $175,000 after purchasing an additional 1,188 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Oceaneering International by 4.0% in the 1st quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 300 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Oceaneering International by 7.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock worth $212,000 after purchasing an additional 560 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.
About Oceaneering International
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
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