Capital One Financial Weighs in on Oceaneering International’s Q1 2019 Earnings (OII)

Oceaneering International (NYSE:OII) – Equities research analysts at Capital One Financial dropped their Q1 2019 earnings estimates for Oceaneering International in a report issued on Tuesday, March 26th, Zacks Investment Research reports. Capital One Financial analyst L. Lemoine now anticipates that the oil and gas company will post earnings of ($0.50) per share for the quarter, down from their previous estimate of ($0.33). Capital One Financial has a “Hold” rating and a $13.00 price objective on the stock. Capital One Financial also issued estimates for Oceaneering International’s Q2 2019 earnings at ($0.30) EPS, Q3 2019 earnings at ($0.17) EPS, Q4 2019 earnings at ($0.17) EPS, FY2019 earnings at ($1.14) EPS and FY2020 earnings at ($0.37) EPS.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 13th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.31. The company had revenue of $495.10 million for the quarter, compared to analysts’ expectations of $488.12 million. Oceaneering International had a negative net margin of 11.12% and a negative return on equity of 4.55%. Oceaneering International’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS.

A number of other equities research analysts have also recently issued reports on OII. Zacks Investment Research raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. ValuEngine cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. JPMorgan Chase & Co. assumed coverage on shares of Oceaneering International in a report on Thursday, January 17th. They issued an “underweight” rating on the stock. Societe Generale set a $17.00 price target on shares of Oceaneering International and gave the company a “hold” rating in a report on Friday, February 15th. Finally, Barclays raised shares of Oceaneering International from an “equal weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $21.23.

Shares of OII stock traded up $0.03 on Friday, reaching $17.25. The stock had a trading volume of 1,024,245 shares, compared to its average volume of 958,760. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.12 and a current ratio of 2.52. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -24.30 and a beta of 2.01. Oceaneering International has a 12 month low of $10.74 and a 12 month high of $28.62.

A number of institutional investors have recently modified their holdings of OII. Wells Fargo & Company MN boosted its position in Oceaneering International by 7.9% in the third quarter. Wells Fargo & Company MN now owns 288,814 shares of the oil and gas company’s stock valued at $7,971,000 after buying an additional 21,152 shares in the last quarter. SG Americas Securities LLC boosted its position in Oceaneering International by 41.1% in the third quarter. SG Americas Securities LLC now owns 45,584 shares of the oil and gas company’s stock valued at $1,258,000 after buying an additional 13,286 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Oceaneering International by 117.9% in the third quarter. JPMorgan Chase & Co. now owns 273,818 shares of the oil and gas company’s stock valued at $7,558,000 after buying an additional 148,157 shares in the last quarter. Prudential Financial Inc. boosted its position in Oceaneering International by 124.2% in the third quarter. Prudential Financial Inc. now owns 420,215 shares of the oil and gas company’s stock valued at $11,598,000 after buying an additional 232,820 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Oceaneering International by 1.4% in the third quarter. BlackRock Inc. now owns 11,351,967 shares of the oil and gas company’s stock valued at $313,314,000 after buying an additional 153,287 shares in the last quarter.

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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Earnings History and Estimates for Oceaneering International (NYSE:OII)

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