Oceaneering International, Inc. (NYSE:OII) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 9,761,634 shares, a decrease of 28.6% from the October 13th total of 13,666,269 shares. Based on an average trading volume of 2,712,923 shares, the short-interest ratio is currently 3.6 days. Approximately 10.0% of the company’s stock are short sold.
Shares of Oceaneering International (OII) opened at $19.44 on Thursday. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1,985.24, a P/E ratio of 673.33 and a beta of 1.64. Oceaneering International has a 52-week low of $17.11 and a 52-week high of $32.12.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $476.12 million for the quarter, compared to analysts’ expectations of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The business’s revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 earnings per share. research analysts anticipate that Oceaneering International will post -0.08 EPS for the current fiscal year.
In other Oceaneering International news, VP W Cardon Gerner sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $25.76, for a total value of $51,520.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.91% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zions Bancorporation purchased a new stake in shares of Oceaneering International during the third quarter valued at approximately $100,000. Quantbot Technologies LP purchased a new stake in shares of Oceaneering International during the third quarter valued at approximately $103,000. Pacad Investment Ltd. increased its position in shares of Oceaneering International by 231.3% during the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 3,700 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of Oceaneering International by 121.2% during the third quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 2,865 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Oceaneering International by 18.4% during the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after acquiring an additional 1,188 shares during the last quarter. 99.87% of the stock is owned by institutional investors.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded Oceaneering International from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub lowered Oceaneering International from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Cowen and Company set a $28.00 price target on Oceaneering International and gave the stock a “hold” rating in a report on Friday, August 4th. Tudor Pickering upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Finally, Citigroup Inc. cut their price target on Oceaneering International from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, October 30th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $24.84.
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).
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