Oceaneering International (OII) Rating Lowered to Sector Perform at Howard Weil

Oceaneering International (NYSE:OII) was downgraded by Howard Weil from a “sector outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday.

OII has been the topic of several other reports. Deutsche Bank began coverage on Oceaneering International in a research report on Tuesday, October 10th. They set a “hold” rating and a $28.00 price target on the stock. Barclays began coverage on Oceaneering International in a research report on Friday, October 6th. They set an “equal weight” rating and a $28.00 price target on the stock. Piper Jaffray Companies reissued an “overweight” rating and set a $28.00 price target (up from $26.00) on shares of Oceaneering International in a research report on Tuesday, October 3rd. Cowen set a $28.00 price target on Oceaneering International and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, Jefferies Group lowered Oceaneering International from a “hold” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, January 4th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Oceaneering International presently has a consensus rating of “Hold” and an average price target of $24.10.

Shares of Oceaneering International (OII) traded down $0.62 during midday trading on Friday, hitting $22.44. The stock had a trading volume of 1,452,055 shares, compared to its average volume of 1,280,000. Oceaneering International has a twelve month low of $17.11 and a twelve month high of $29.53. The stock has a market capitalization of $2,210.00, a P/E ratio of -118.11 and a beta of 1.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.14 and a current ratio of 2.67.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The company had revenue of $476.12 million for the quarter, compared to analysts’ expectations of $511.14 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. research analysts anticipate that Oceaneering International will post -0.09 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Utah Retirement Systems increased its position in Oceaneering International by 1.1% in the 2nd quarter. Utah Retirement Systems now owns 17,982 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 200 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Oceaneering International by 3.2% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock worth $242,000 after purchasing an additional 330 shares during the last quarter. Harris Associates L P increased its position in Oceaneering International by 2.1% in the 2nd quarter. Harris Associates L P now owns 35,025 shares of the oil and gas company’s stock worth $800,000 after purchasing an additional 725 shares during the last quarter. Prudential Financial Inc. increased its position in Oceaneering International by 1.4% in the 2nd quarter. Prudential Financial Inc. now owns 60,526 shares of the oil and gas company’s stock worth $1,382,000 after purchasing an additional 860 shares during the last quarter. Finally, Isthmus Partners LLC increased its position in Oceaneering International by 0.6% in the 2nd quarter. Isthmus Partners LLC now owns 207,371 shares of the oil and gas company’s stock worth $4,736,000 after purchasing an additional 1,192 shares during the last quarter.

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Oceaneering International Company Profile

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).

Analyst Recommendations for Oceaneering International (NYSE:OII)

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