Oceaneering International (NYSE:OII) – Equities research analysts at Jefferies Financial Group raised their FY2021 earnings estimates for shares of Oceaneering International in a research note issued on Tuesday, April 30th, Zacks Investment Research reports. Jefferies Financial Group analyst E. Royes now forecasts that the oil and gas company will post earnings of $0.70 per share for the year, up from their previous estimate of $0.65. Jefferies Financial Group has a “Buy” rating and a $18.00 price objective on the stock. Jefferies Financial Group also issued estimates for Oceaneering International’s FY2022 earnings at $1.75 EPS.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Monday, April 29th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.21. The business had revenue of $493.89 million for the quarter, compared to analyst estimates of $466.33 million. Oceaneering International had a negative return on equity of 3.64% and a negative net margin of 9.46%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.41) EPS.
Other research analysts also recently issued reports about the company. Seaport Global Securities upgraded Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, May 7th. Cowen restated a “market perform” rating and set a $19.00 price objective (up from $16.00) on shares of Oceaneering International in a research note on Friday, May 3rd. ValuEngine upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Barclays restated a “buy” rating and set a $21.00 price objective on shares of Oceaneering International in a research note on Sunday, May 5th. Finally, Societe Generale set a $17.00 price objective on Oceaneering International and gave the stock a “hold” rating in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Oceaneering International currently has an average rating of “Hold” and an average price target of $21.71.
OII traded down $0.13 during trading on Thursday, reaching $16.79. 537,796 shares of the company were exchanged, compared to its average volume of 1,131,342. The company has a market cap of $1.83 billion, a P/E ratio of -23.65 and a beta of 2.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.44 and a quick ratio of 2.03. Oceaneering International has a 52 week low of $10.74 and a 52 week high of $28.62.
Large investors have recently added to or reduced their stakes in the company. Fort L.P. bought a new position in shares of Oceaneering International in the first quarter worth $40,000. Zions Bancorporation N.A. bought a new position in shares of Oceaneering International in the first quarter worth $44,000. NumerixS Investment Technologies Inc bought a new position in shares of Oceaneering International in the fourth quarter worth $55,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Oceaneering International in the fourth quarter worth $81,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Oceaneering International by 21.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 1,189 shares in the last quarter. 98.32% of the stock is owned by institutional investors.
Oceaneering International Company Profile
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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