Bank of Montreal Can Sells Shares of Oceaneering International,

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The Bank of Montreal Can recently sold shares of Oceaneering International ($NYSE:OII), Inc. to the Defense World, a major international arms dealer. Oceaneering International, Inc. is a global provider of engineered services, products and solutions for the deepwater oil and gas industry. The company provides services, products, and solutions to offshore and onshore markets, from design to operational support.

Oceaneering International has expertise in robotics, engineering, subsea hardware, specialty hardware, and asset integrity management. They also produce tools and services for the defense industry.

Price History

The stock opened at $17.5 and closed at $16.9, which was a 0.6% decline from the prior closing price of 17.0. The shares of Oceaneering International, Inc. had been held by Bank of Montreal Can in a portfolio of investments and were sold as part of an effort to diversify its holdings. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Oceaneering International. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Oceaneering International. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Oceaneering International. More…

Key Ratios Snapshot

Some of the financial key ratios for Oceaneering International are shown below. More…

Analysis

As GoodWhale analysts, we have carefully analyzed OCEANEERING INTERNATIONAL‘s financials. According to our Star Chart, OCEANEERING INTERNATIONAL is strong in asset, medium in growth, profitability and weak in dividend. Based on this analysis, we have classified OCEANEERING INTERNATIONAL as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Considering its cashflows and debt, OCEANEERING INTERNATIONAL has a high health score of 8/10. This indicates that the company is capable of sustaining its future operations even in times of crisis. With this kind of performance, OCEANEERING INTERNATIONAL may be of interest to investors looking for high-growth companies with strong cashflow. More…

Peers

Oceaneering International, Inc. is one of the world’s largest providers of engineered services and products to the offshore oil and gas industry, with a focus on deepwater applications. The company has a significant competitive advantage in its unique ability to operate in extremely deepwater environments. Deep Down, Inc. is a leading provider of subsea intervention, installation, and abandonment services to the oil and gas industry. The company has a strong track record of delivering complex projects safely and on time. Dolfines is a leading provider of remotely operated vehicles (ROVs) and related services to the oil and gas industry. The company has a broad range of ROVs and related services that are used in a variety of applications, including deepwater drilling and production. Bumi Armada Bhd is a leading provider of floating production, storage, and offloading (FPSO) vessels and related services to the oil and gas industry. The company has a strong track record of delivering projects on time and on budget.

– Deep Down Inc ($OTCPK:DPDW)

The company’s market capitalization is 7.25 million as of 2022. The company’s return on equity is -2.83%. The company is engaged in the development of oil and gas projects.

– Dolfines ($BER:JPZ0)

Bumi Armada is a Malaysia-based international offshore oilfield services provider. The Company is engaged in the charter, operation and maintenance of floating production, storage and offloading (FPSO) vessels, Floating LNG (FLNG) vessels, Tension Leg Platforms (TLPs), FPSO topsides, FSOs, LNG regasification units, LNG carriers, LNG/CNG carriers, other LNG related floating units, process platforms, mini-refineries, riser platforms and living quarters platforms.

Summary

Bank of Montreal Can recently sold its shares in Oceaneering International, Inc., an oil and gas services company. Analysts point to the company’s high debt levels, volatile stock price, and lower utilization of its assets as factors that may have led to the decision. Investors are advised to weigh the potential rewards of a long-term investment in Oceaneering against the risks associated with the company’s current financial position. Analyzing its current financial statements, Oceaneering appears to have decreasing cash flow, declining operating income and a higher debt load than its competitors.

The company also faces an uncertain future due to the current state of the energy sector. In the short-term, investors should remain cautious about Oceaneering and weigh their risk-reward profile before investing.