Oceaneering International (NYSE:OII) – Equities researchers at Gabelli increased their FY2018 earnings per share (EPS) estimates for shares of Oceaneering International in a note issued to investors on Monday, October 29th. Gabelli analyst S. Wong now anticipates that the oil and gas company will earn ($1.05) per share for the year, up from their previous estimate of ($1.10). Gabelli currently has a “Buy” rating and a $37.00 target price on the stock. Gabelli also issued estimates for Oceaneering International’s FY2020 earnings at $0.35 EPS, FY2021 earnings at $0.95 EPS and FY2022 earnings at $1.55 EPS.
Several other equities research analysts also recently weighed in on the company. Cowen initiated coverage on Oceaneering International in a report on Saturday, October 13th. They issued a “hold” rating and a $27.00 price objective for the company. Zacks Investment Research raised Oceaneering International from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, July 16th. Seaport Global Securities reissued a “neutral” rating on shares of Oceaneering International in a report on Wednesday, August 29th. Societe Generale raised Oceaneering International from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Friday, October 12th. Finally, TheStreet raised Oceaneering International from a “d+” rating to a “c” rating in a report on Thursday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $25.75.
Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. The business had revenue of $519.30 million during the quarter, compared to the consensus estimate of $492.15 million. Oceaneering International had a negative return on equity of 5.33% and a net margin of 1.34%.
Several institutional investors have recently added to or reduced their stakes in OII. BlackRock Inc. raised its stake in shares of Oceaneering International by 31.3% during the second quarter. BlackRock Inc. now owns 11,198,680 shares of the oil and gas company’s stock worth $285,118,000 after purchasing an additional 2,667,334 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Oceaneering International by 95.0% during the third quarter. Fisher Asset Management LLC now owns 3,046,161 shares of the oil and gas company’s stock worth $84,074,000 after purchasing an additional 1,484,094 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Oceaneering International by 10.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,654,076 shares of the oil and gas company’s stock worth $194,872,000 after purchasing an additional 735,367 shares during the last quarter. Northern Trust Corp raised its stake in shares of Oceaneering International by 82.3% during the second quarter. Northern Trust Corp now owns 1,557,801 shares of the oil and gas company’s stock worth $39,661,000 after purchasing an additional 703,347 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new stake in shares of Oceaneering International during the second quarter worth approximately $15,856,000.
In other news, Director T Jay Collins sold 16,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total transaction of $443,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.
About Oceaneering International
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.
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