Oceaneering International Receives a Buy from Scotiabank

By Austin Angelo

In a report released today, Blake Hutchinson from Scotiabank maintained a Buy rating on Oceaneering International (NYSE: OII), with a price target of $37. The company’s shares opened today at $25.15.

According to TipRanks.com, Hutchinson is ranked 0 out of 5 stars with an average return of -18.6% and a 11.9% success rate. Hutchinson covers the Basic Materials sector, focusing on stocks such as Oil States International, Mcdermott International, and Basic Energy Services.

Oceaneering International has an analyst consensus of Hold, with a price target consensus of $27.60.

The company has a one year high of $32.12 and a one year low of $20.74. Currently, Oceaneering International has an average volume of 1.36M.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OII in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Oceaneering International, Inc. provides engineered services and products primarily to the offshore oil and gas industry. The company provides remotely operated vehicles, built-to-order specialty subsea hardware, engineering and project management, subsea intervention services, including manned diving, nondestructive testing & inspection and mobile offshore production systems. It operates its business through four segments, which are divided within two businesses line which include services and products provided to the oil and gas industry, namely Oil and Gas and all other services and products, namely Advanced Technologies. The Oil and Gas business is operated through four 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 drilling; and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair services. The Subsea Products segment supplies various built-to-order specialty subsea hardware products which include multiservice vessels, oilfield diving, and support vessel operations, which are used primarily in inspection, repair and maintenance and installation activities and mobile offshore production systems. The Asset Integrity segment provides asset integrity management and assessment services and nondestructive testing and inspection. The Advanced Technologies segment offers project management, and engineering services and equipment for applications in non-oilfield markets. Oceaneering International was founded in 1969 and is headquartered in Houston, TX.