Oceaneering International (NYSE:OII) Trading Up 6.5% Following Analyst Upgrade

Oceaneering International, Inc. (NYSE:OII)’s share price rose 6.5% on Monday after Weiss Ratings upgraded the stock from a hold (c+) rating to a buy (b-) rating. The stock traded as high as $37.80 and last traded at $37.0520. Approximately 213,586 shares traded hands during trading, a decline of 82% from the average daily volume of 1,199,566 shares. The stock had previously closed at $34.79.

A number of other research firms also recently weighed in on OII. Barclays raised their price target on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen boosted their target price on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Finally, Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Oceaneering International has an average rating of “Moderate Buy” and an average price target of $28.00.

Insider Buying and Selling

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.35, for a total value of $768,234.25. Following the completion of the sale, the senior vice president owned 52,344 shares in the company, valued at approximately $1,379,264.40. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Oceaneering International in the 4th quarter worth $94,847,000. Balyasny Asset Management L.P. boosted its holdings in shares of Oceaneering International by 916.6% during the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock worth $28,219,000 after purchasing an additional 1,227,950 shares during the period. Brown Advisory Inc. grew its stake in shares of Oceaneering International by 12.2% in the second quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock worth $152,202,000 after purchasing an additional 799,718 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Oceaneering International by 94.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock valued at $18,930,000 after purchasing an additional 371,586 shares during the period. Finally, Tudor Investment Corp ET AL raised its position in Oceaneering International by 210.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock valued at $12,190,000 after purchasing an additional 333,666 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Trading Up 4.4%

The firm has a market cap of $3.86 billion, a PE ratio of 11.10 and a beta of 1.26. The firm has a fifty day simple moving average of $28.75 and a two-hundred day simple moving average of $25.73. The company has a current ratio of 1.99, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The firm had revenue of $668.57 million for the quarter, compared to analysts’ expectations of $678.16 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current year.

About Oceaneering International

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.