Oceaneering International (OII) is Reiterated by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 28

Oceaneering International (OII) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 28 from a previous price target of $32 . RBC Capital Mkts advised their investors in a research report released on Sep 15, 2016.

Many Wall Street Analysts have commented on Oceaneering International. JP Morgan Initiated Oceaneering International on Jun 22, 2016 to “Underweight”, Price Target of the shares are set at $23.

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 -0.14 points or -0.55% at $25.38 with 1,917,332 shares getting traded on Wednesday. Post opening the session at $25.45, the shares hit an intraday low of $25.19 and an intraday high of $26.01 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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