Oceaneering International (OII) is Initiated by JP Morgan to Underweight, Price Target at $23

Oceaneering International (OII) was Initiated by JP Morgan to “Underweight” and the brokerage firm has set the Price Target at $23. JP Morgan advised their investors in a research report released on Jun 22, 2016.

Many Wall Street Analysts have commented on Oceaneering International. Company shares were Upgraded by RBC Capital Mkts on May 20, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 36 from a previous price target of $30 .Company shares were Reiterated by Cowen on May 2, 2016 to “Market Perform”, Firm has raised the Price Target to $ 31 from a previous price target of $25 .Oceaneering International was Upgraded by Societe Generale to ” Buy” on Apr 29, 2016.

On the company’s financial health, Oceaneering International reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.35. The company had revenue of $608.30 million for the quarter, compared to analysts expectations of $641.83 million. The company’s revenue was down -22.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.

Oceaneering International closed down -0.28 points or -0.88% at $31.58 with 9,94,652 shares getting traded on Monday. Post opening the session at $32.41, the shares hit an intraday low of $31.53 and an intraday high of $32.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 31, 2016, T Jay Collins (director) sold 20,000 shares at $33.05 per share price. According to the SEC, on May 10, 2016, Stephen P Barrett (Sr. V.P., Subsea Products) purchased 1,000 shares at $32.80 per share price. On Nov 12, 2015, John R Huff (director) sold 200,000 shares at $44.17 per share price, according to the Form-4 filing with the securities and exchange commission.

Oceaneering International Inc. is an oilfield provider of engineered services and products to the offshore oil and gas industry with a focus on deep water applications. The Company’s business segments are contained within two businesses such as services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies). The Company’s four business segments within the Oil and Gas business includes Remotely Operated Vehicles (ROVs) Subsea Products Subsea Projects and Asset Integrity. The Company also provides remote asset management software services. The Company provides services and products such as remotely operated vehicles specialty subsea hardware engineering and project management subsea intervention services including manned diving and asset integrity and non-destructive testing services. The Company’s foreign operations are principally focused in the North Sea Africa Brazil Australia and Asia.

Oceaneering International

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