Oceaneering International Inc. [NYSE: OII] loss -1.91% or -0.23 points to close at $11.79 with a heavy trading volume of 841754 shares. The company report on October 27, 2021 that Oceaneering Reports Third Quarter 2021 Results.
Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) reported a net loss of $7.4 million, or $(0.07) per share, on revenue of $467 million for the three months ended September 30, 2021. Adjusted net loss was $1.4 million, or $(0.01) per share, reflecting the impact of $0.3 million of pre-tax adjustments associated with foreign exchange losses recognized during the quarter and $5.8 million of discrete tax adjustments, primarily due to changes in valuation allowances.
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During the prior quarter ended June 30, 2021, Oceaneering reported net income of $6.2 million, or $0.06 per share, on revenue of $498 million. Adjusted net income was $10.4 million, or $0.10 per share, reflecting the impact of $3.2 million of pre-tax adjustments associated with a loss on the sale of an asset and foreign exchange losses recognized during the quarter and $1.6 million of discrete tax adjustments.
It opened the trading session at $11.85, the shares rose to $12.17 and dropped to $11.75, the range by which the price of stock traded the whole day. The daily chart for OII points out that the company has recorded -18.01% loss over the past six months. However, it is still -96.5% lower than its most recent low trading price.
If we look at the average trading volume of 852.98K shares, OII reached to a volume of 841754 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Oceaneering International Inc. [OII]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OII shares is $17.72 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OII stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Oceaneering International Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 05, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $10 to $14. The new note on the price target was released on March 03, 2021, representing the official price target for Oceaneering International Inc. stock. Previously, the target price had yet another raise from $5.50 to $6, while Cowen kept a Market Perform rating on OII stock. On April 24, 2020, analysts increased their price target for OII shares from 4 to 7.
The Average True Range (ATR) for Oceaneering International Inc. is set at 0.70, with the Price to Sales ratio for OII stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 2.17, with the Price to Cash per share for the same quarter was set at 4.26. Price to Free Cash Flow for OII in the course of the last twelve months was 9.06 with Quick ratio for the last quarter at 2.30.
Trading performance analysis for OII stock
Oceaneering International Inc. [OII] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.52. With this latest performance, OII shares dropped by -24.23% in over the last four-week period, additionally sinking by -18.01% over the last 6 months – not to mention a rise of 57.62% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OII stock in for the last two-week period is set at 36.58, with the RSI for the last a single of trading hit 34.79, and the three-weeks RSI is set at 39.46 for Oceaneering International Inc. [OII]. The present Moving Average for the last 50 days of trading for this stock 13.71, while it was recorded at 11.64 for the last single week of trading, and 13.32 for the last 200 days.
Oceaneering International Inc. [OII]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Oceaneering International Inc. [OII] shares currently have an operating margin of -1.74 and a Gross Margin at +8.97. Oceaneering International Inc.’s Net Margin is presently recorded at -27.18.
Return on Total Capital for OII is now -1.77, given the latest momentum, and Return on Invested Capital for the company is -28.06. Return on Equity for this stock declined to -61.27, with Return on Assets sitting at -20.76. When it comes to the capital structure of this company, Oceaneering International Inc. [OII] has a Total Debt to Total Equity ratio set at 177.53. Additionally, OII Total Debt to Total Capital is recorded at 63.97, with Total Debt to Total Assets ending up at 47.91. Long-Term Debt to Equity for the company is recorded at 174.12, with the Long-Term Debt to Total Capital now at 62.74.
Reflecting on the efficiency of the workforce at the company, Oceaneering International Inc. [OII] managed to generate an average of -$59,850 per employee. Receivables Turnover for the company is 3.15 with a Total Asset Turnover recorded at a value of 0.76.Oceaneering International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.60.
Oceaneering International Inc. [OII]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Oceaneering International Inc. posted -0.18/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -20.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OII.
An analysis of insider ownership at Oceaneering International Inc. [OII]
There are presently around $1,031 million, or 89.20% of OII stock, in the hands of institutional investors. The top three institutional holders of OII stocks are: BLACKROCK INC. with ownership of 17,579,186, which is approximately -2.21% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 11,277,119 shares of the stock with an approximate value of $132.96 million in OII stocks shares; and FMR LLC, currently with $82.09 million in OII stock with ownership of nearly 1.106% of the company’s market capitalization.
Positions in Oceaneering International Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 84 institutional holders increased their position in Oceaneering International Inc. [NYSE:OII] by around 5,966,931 shares. Additionally, 101 investors decreased positions by around 6,761,819 shares, while 34 investors held positions by with 74,735,623 shares. The mentioned changes placed institutional holdings at 87,464,373 shares, according to the latest SEC report filing. OII stock had 29 new institutional investments in for a total of 2,211,182 shares, while 20 institutional investors sold positions of 1,522,852 shares during the same period.