Oceaneering International, Inc. (NYSE:OII) Receives Average Rating of “Hold” from Analysts

Oceaneering International, Inc. (NYSE:OII) has been given an average rating of “Hold” by the five research firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $38.3333.

OII has been the subject of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Citigroup upped their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Barclays lifted their price target on shares of Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, May 8th.

Insider Buying and Selling at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. The trade was a 1.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oceaneering International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock valued at $1,312,000 after buying an additional 2,633 shares in the last quarter. Empowered Funds LLC lifted its position in Oceaneering International by 1.9% during the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock worth $2,634,000 after buying an additional 2,310 shares in the last quarter. Strs Ohio bought a new stake in Oceaneering International during the 1st quarter worth about $168,000. Norges Bank acquired a new stake in Oceaneering International in the 2nd quarter valued at about $1,485,000. Finally, Invesco Ltd. increased its position in Oceaneering International by 8.0% in the 2nd quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock valued at $13,472,000 after acquiring an additional 48,382 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Stock Performance

NYSE:OII opened at $39.84 on Friday. The firm has a market capitalization of $3.97 billion, a PE ratio of 11.82 and a beta of 1.16. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. Oceaneering International has a 12-month low of $20.21 and a 12-month high of $40.21. The firm has a 50-day moving average price of $37.90 and a 200 day moving average price of $33.57.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $671.35 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts anticipate that Oceaneering International will post 1.89 earnings per share for the current fiscal 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.