In a report issued on December 18, Kurt Hallead from RBC Capital maintained a Buy rating on Oceaneering International (OII), with a price target of $10.00. The company’s shares closed last Monday at $8.16.
According to TipRanks.com, Hallead has 0 stars on 0-5 stars ranking scale with an average return of -9.5% and a 32.6% success rate. Hallead covers the Industrial Goods sector, focusing on stocks such as Independence Contract Drilling, Oil States International, and Ncs Multistage Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for Oceaneering International with a $8.94 average price target, which is a 13.9% upside from current levels. In a report issued on December 15, Citigroup also maintained a Buy rating on the stock with a $10.00 price target.
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Based on Oceaneering International’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $440 million and GAAP net loss of $79.37 million. In comparison, last year the company earned revenue of $498 million and had a GAAP net loss of $25.52 million.
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Oceaneering International, Inc. engages in the provision of engineered services and products. It operates through the following business segments: Remotely Operated Vehicles, Subsea Products, Subsea Projects, and Asset Integrity. The Remotely Operated Vehicles segment provides submersible vehicles operated from the surface to support offshore energy exploration, development and production activities. The Subsea Products segment supplies a variety of specialty subsea hardware and related services. The Subsea Projects segment provides multiservice subsea support vessels and oilfield diving and support vessel operations, primarily for inspection, maintenance and repair and installation activities. The Asset Integrity segment refers to the asset integrity management and assessment services and nondestructive testing and inspection. The company was founded in 1969 and is headquartered in Houston, TX.