Oceaneering International (NYSE:OII) was downgraded by equities researchers at Howard Weil from a “sector outperform” rating to a “sector perform” rating in a research note issued on Friday.
A number of other research analysts also recently issued reports on OII. Piper Jaffray Companies restated an “overweight” rating and set a $28.00 target price (up from $26.00) on shares of Oceaneering International in a research report on Tuesday, October 3rd. Barclays initiated coverage on shares of Oceaneering International in a research report on Friday, October 6th. They set an “equal weight” rating and a $28.00 target price for the company. Cowen set a $28.00 target price on shares of Oceaneering International and gave the company a “hold” rating in a research report on Friday, October 6th. Deutsche Bank initiated coverage on shares of Oceaneering International in a research report on Tuesday, October 10th. They set a “hold” rating and a $28.00 target price for the company. Finally, ValuEngine downgraded shares of Oceaneering International from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.10.
Oceaneering International (OII) opened at $23.06 on Friday. The stock has a market cap of $2,270.00, a price-to-earnings ratio of -121.37 and a beta of 1.62. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $29.53. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation purchased a new position in Oceaneering International in the third quarter valued at $100,000. Quantbot Technologies LP purchased a new position in Oceaneering International in the third quarter valued at $103,000. Meeder Asset Management Inc. increased its holdings in Oceaneering International by 121.2% in the third quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 2,865 shares in the last quarter. Pacad Investment Ltd. increased its holdings in Oceaneering International by 231.3% in the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 3,700 shares in the last quarter. Finally, World Asset Management Inc purchased a new position in Oceaneering International in the third quarter valued at $201,000. 99.69% of the stock is owned by institutional investors.
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Oceaneering International Company Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
