Oceaneering International (NYSE:OII) – Stock analysts at SunTrust Banks dropped their FY2018 earnings per share estimates for shares of Oceaneering International in a research report issued on Wednesday, November 7th, according to Zacks Investment Research. SunTrust Banks analyst K. Sill now forecasts that the oil and gas company will post earnings per share of ($1.05) for the year, down from their prior forecast of ($1.01). SunTrust Banks currently has a “Hold” rating and a $24.00 price objective on the stock. SunTrust Banks also issued estimates for Oceaneering International’s Q4 2018 earnings at ($0.23) EPS, Q1 2019 earnings at ($0.23) EPS, Q2 2019 earnings at ($0.10) EPS, Q3 2019 earnings at $0.03 EPS, Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at ($0.35) EPS, Q1 2020 earnings at ($0.06) EPS, Q2 2020 earnings at $0.06 EPS and Q3 2020 earnings at $0.19 EPS.
Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The company had revenue of $519.30 million during the quarter, compared to analysts’ expectations of $492.15 million. Oceaneering International had a net margin of 1.34% and a negative return on equity of 5.33%.
A number of other research firms have also recently commented on OII. Wells Fargo & Co reissued a “hold” rating on shares of Oceaneering International in a research note on Tuesday, October 30th. Societe Generale raised shares of Oceaneering International from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, October 12th. Zacks Investment Research cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Citigroup set a $21.00 price target on shares of Oceaneering International and gave the stock a “hold” rating in a research note on Monday, November 12th. Finally, TheStreet cut shares of Oceaneering International from a “c-” rating to a “d+” rating in a research note on Tuesday, November 20th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. Oceaneering International currently has a consensus rating of “Hold” and an average target price of $25.38.
OII stock traded up $0.64 during midday trading on Monday, reaching $17.28. The company had a trading volume of 905,400 shares, compared to its average volume of 1,276,445. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.50 and a quick ratio of 2.10. Oceaneering International has a 1 year low of $16.46 and a 1 year high of $28.62. The stock has a market cap of $1.64 billion, a PE ratio of -247.00 and a beta of 1.66.
Institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Oceaneering International by 12.0% in the 2nd quarter. Millennium Management LLC now owns 2,561,127 shares of the oil and gas company’s stock valued at $65,206,000 after purchasing an additional 275,126 shares in the last quarter. Cortina Asset Management LLC purchased a new stake in shares of Oceaneering International in the 2nd quarter valued at $12,965,000. Sterling Capital Management LLC purchased a new stake in shares of Oceaneering International in the 2nd quarter valued at $1,844,000. BlackRock Inc. boosted its stake in shares of Oceaneering International by 31.3% in the 2nd quarter. BlackRock Inc. now owns 11,198,680 shares of the oil and gas company’s stock valued at $285,118,000 after purchasing an additional 2,667,334 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC boosted its stake in shares of Oceaneering International by 96.1% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 246,388 shares of the oil and gas company’s stock valued at $6,273,000 after purchasing an additional 120,765 shares in the last quarter.
Oceaneering International Company Profile
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, 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.