Oceaneering International (NYSE:OII) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 5,053,100 shares, a drop of 10.4% from the June 30th total of 5,640,000 shares. Currently, 5.2% of the shares of the company are short sold. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is presently 4.2 days.
Shares of NYSE:OII traded up $0.49 during trading on Friday, reaching $12.07. The company had a trading volume of 984,205 shares, compared to its average volume of 1,173,949. The company has a fifty day moving average of $16.96 and a two-hundred day moving average of $16.81. The stock has a market capitalization of $1.25 billion, a P/E ratio of -17.00 and a beta of 2.14. Oceaneering International has a 12 month low of $10.74 and a 12 month high of $28.62. The company has a current ratio of 2.43, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.07). The company had revenue of $495.78 million during the quarter, compared to the consensus estimate of $524.97 million. Oceaneering International had a negative return on equity of 4.38% and a negative net margin of 9.49%. Oceaneering International’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.23) EPS. As a group, equities research analysts predict that Oceaneering International will post -0.85 earnings per share for the current year.
OII has been the subject of several research reports. Royal Bank of Canada set a $20.00 price objective on shares of Oceaneering International and gave the stock a “buy” rating in a research report on Friday, July 26th. 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 report on Friday, May 3rd. Barclays restated a “buy” rating and set a $21.00 price objective on shares of Oceaneering International in a research report on Sunday, May 5th. Citigroup cut their price objective on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Seaport Global Securities upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.20.
Large investors have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Oceaneering International in the 1st quarter worth $2,167,000. HAP Trading LLC bought a new position in shares of Oceaneering International in the 1st quarter worth $207,000. Deutsche Bank AG increased its holdings in shares of Oceaneering International by 221.9% in the 4th quarter. Deutsche Bank AG now owns 815,429 shares of the oil and gas company’s stock worth $9,864,000 after buying an additional 562,134 shares during the last quarter. FMR LLC increased its holdings in shares of Oceaneering International by 8.7% in the 1st quarter. FMR LLC now owns 12,466,488 shares of the oil and gas company’s stock worth $196,597,000 after buying an additional 1,001,484 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. bought a new position in shares of Oceaneering International in the 2nd quarter worth $8,465,000. 96.45% of the stock is currently owned by hedge funds and other institutional investors.
About Oceaneering International
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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