Evercore ISI Group Downgrades Oceaneering International to Hold

Brokerage firm Evercore ISI Group Downgrades its rating on Oceaneering International(NYSE:OII). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Evercore ISI Group was issued on Jun 29, 2016.

In a different note, JP Morgan said it Initiates Coverage on Oceaneering International, according to a research note issued on Jun 22, 2016. The shares have been rated ‘Underweight’ by the firm. On May 20, 2016, RBC Capital said it Upgrades its rating on Oceaneering International. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Sector Perform’ by the firm. On Apr 29, 2016, Societe Generale said it Upgrades its rating on Oceaneering International. The shares have been rated ‘Buy’ by the firm. On Apr 19, 2016, Morgan Stanley said it Maintains its rating on Oceaneering International. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Oceaneering International (OII) made into the market gainers list on Fridays trading session with the shares advancing 1.98% or 0.59 points. Due to strong positive momentum, the stock ended at $30.45, which is also near the day’s high of $31.07. The stock began the session at $29.88 and the volume stood at 14,32,105 shares. The 52-week high of the shares is $48.11 and the 52 week low is $25.33. The company has a current market capitalization of $2,986 M and it has 9,80,59,876 shares in outstanding.

Oceaneering International(OII) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $608.34M. Analysts had an estimated revenue of $641.94M. Earnings per share were $0.26. Analysts had estimated an EPS of $0.36.

Several Insider Transactions has been reported 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.Also, On May 31, 2016, T Jay Collins (director) sold 20,000 shares at $33.05 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.

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