Barclays Maintains an 'Overweight' on Oceaneering (OII); GOM Shaping Up
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Price: $52.69 -0.77%
Rating Summary:
13 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
Rating Summary:
13 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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Barclays maintains an 'Overweight' on Oceaneering Intl (NYSE: OII) price target raised $1 to $48.
Barclays analyst says, "We continue to believe Oceaneering is well positioned to benefit from the secular upturn in subsea and deepwater exploration activity that is likely to continue well into this decade. We expect a ramp in Gulf of Mexico activity in 2012 to contribute meaningfully to earnings, and the ongoing new rig construction cycle provides further visibility for growth."
"We are maintaining our 4Q11 EPS estimate of $0.50. We are adjusting our 2012 and 2013 EPS estimates to $2.45 and $3.05 (from $2.40 and $3.00), respectively, reflecting increases Subsea Products operating income from better tooling sales, improved throughput at Oceaneering's plants, and increased demand for umbilicals from Brazil, the North Sea, and West Africa."
For more ratings news on Oceaneering Intl click here and for the rating history of Oceaneering Intl click here.
Shares of Oceaneering Intl closed at $44.11 yesterday.
Barclays analyst says, "We continue to believe Oceaneering is well positioned to benefit from the secular upturn in subsea and deepwater exploration activity that is likely to continue well into this decade. We expect a ramp in Gulf of Mexico activity in 2012 to contribute meaningfully to earnings, and the ongoing new rig construction cycle provides further visibility for growth."
"We are maintaining our 4Q11 EPS estimate of $0.50. We are adjusting our 2012 and 2013 EPS estimates to $2.45 and $3.05 (from $2.40 and $3.00), respectively, reflecting increases Subsea Products operating income from better tooling sales, improved throughput at Oceaneering's plants, and increased demand for umbilicals from Brazil, the North Sea, and West Africa."
For more ratings news on Oceaneering Intl click here and for the rating history of Oceaneering Intl click here.
Shares of Oceaneering Intl closed at $44.11 yesterday.
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