Analysis: Oceaneering International (NYSE:OII) Upside Target Change Today
In a very recent research note sent to investors by RBC Capital Markets on Friday morning, the firm, Oceaneering International (NYSE:OII), had their target PPS cut to $40.00. Analusts at present have a solid Sector Perform rating on the stock.
From a total of 20 analysts covering Oceaneering International (NYSE:OII) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $69 while the lowest target price is $38. The mean of all analyst targets is $46.4 with a 31.40% above today’s ($37.2) stock price. Oceaneering International was the topic of 12 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Howard Weil downgraded shares on December 14 to “Sector Perform” rating. Jefferies upgraded shares to “Hold” rating and $38 target share price in a report from a July 23. Cowen & Co downgraded OII stock in a recent report from October 30 to “Market Perform” rating. Finally, Credit Suisse maintained the stock with “Neutral” rating in a report issued on a September 4.
Approximately 1.11M shares of stock traded hands or 0.91% up from the average. Oceaneering International (NYSE:OII) has declined 28.56% since May 15, 2015 and is downtrending. It has underperformed by 24.75% the S&P500.
The overall sentiment of institutions has increased to 1.06 in Q2 2015. Its up 0.26, from 0.8 in 2015Q2. The ratio improved, as 54 institutions have sold all the shares of Oceaneering International that they owned while 108 funds have taken shares off the table. 50 funds have purchased shares for the first time while 121 added to their positions. These institutions now hold 85.58 million shares or 3.36% less than the 88.55 million shares they owned in 2015Q2.
The Fund Villere St Denis J & Co Llc currently is holding shares equating to 3.83% of its total portfolio in Oceaneering International representing a total of 1.84 million shares. Another fund,Energy Opportunities Capital Management Llc, is holding a total of 237,314 shares equating to 3.05% of their holdings. Additionally, Cambrian Capital Limited Partnership has a 117,886 share stake in Oceaneering International which represents 2.86% of their total portfolio. The Fund, Bocage Capital Llc, based out of California, has also built up a stake in the stock, which represents a total of 2.84% of their total portfolio. Finally Palouse Capital Management Inc., a fund which is based in the state of Washington reported a total holdings of 103,141 shares.
Oceaneering International, Inc. is an oilfield well-known provider of engineered services and products to the offshore gas and oil industry, with a focus on deep water applications. The company has a market cap of $3.68 billion. The Company’s business divisions are contained within two businesses, such as services and products provided to the gas and oil industry and all other services and products (Advanced Technologies). It has 12.24 P/E ratio. The Company’s four business divisions within the Oil and Gas business includes Remotely Operated Vehicles (ROVs), Subsea Products, Subsea Projects and Asset Integrity.
According to Zacks Investment Research, “OCEANEERING INTERNATIONAL, INC. is an advanced applied technology company that provides engineered services and hardware to customers who operate in marine, space and other harsh environments. The company supplies a comprehensive range of integrated technical services to a wide array of industries and is one of the world’s largest underwater services contractors.”