Oceaneering International (OII) is Initiated by Wells Fargo to Market Perform

Oceaneering International (OII) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their investors in a research report released on Oct 18, 2016.

Many Wall Street Analysts have commented on Oceaneering International. Oceaneering International was Initiated by Citigroup to “Neutral” on Sep 27, 2016. Shares were Reiterated by RBC Capital Mkts on Sep 15, 2016 to “Sector Perform” and Lowered the Price Target to $ 28 from a previous price target of $32 .

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 -0.18 points or -0.65% at $27.44 with 8,07,252 shares getting traded on Friday. Post opening the session at $27.72, the shares hit an intraday low of $27.35 and an intraday high of $27.84 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 30, 2016, David K Lawrence (Sr. V.P., Gen.Counsel and Sec.) purchased 90 shares at $30.22 per share price. According to the SEC, on Jun 29, 2016, Stephen P Barrett (Sr. V.P., Subsea Products) purchased 1,000 shares at $28.91 per share price. On May 31, 2016, T Jay Collins (director) sold 20,000 shares at $33.05 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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