Oceaneering International (NYSE:OII) Share Price Passes Above 200 Day Moving Average of $21.81

Oceaneering International, Inc. (NYSE:OII)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.81 and traded as high as $23.28. Oceaneering International shares last traded at $22.97, with a volume of 593,962 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OII shares. StockNews.com lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Barclays dropped their target price on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th.

Oceaneering International Trading Down 2.0 %

The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $2.33 billion, a P/E ratio of 24.18 and a beta of 2.49. The firm’s 50 day simple moving average is $22.18 and its two-hundred day simple moving average is $21.81.

Oceaneering International (NYSE:OII) last posted its earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.04). The business had revenue of $654.60 million for the quarter, compared to the consensus estimate of $624.81 million. Oceaneering International had a return on equity of 14.00% and a net margin of 4.02%. The company’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. As a group, analysts forecast that Oceaneering International, Inc. will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently made changes to their positions in OII. Loomis Sayles & Co. L P bought a new stake in shares of Oceaneering International during the third quarter worth about $30,757,000. Norges Bank bought a new stake in shares of Oceaneering International during the fourth quarter worth about $16,865,000. Hennessy Advisors Inc. grew its position in Oceaneering International by 541.1% in the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after purchasing an additional 829,000 shares in the last quarter. Royal Bank of Canada grew its position in Oceaneering International by 1,636.6% in the 4th quarter. Royal Bank of Canada now owns 784,506 shares of the oil and gas company’s stock worth $16,694,000 after purchasing an additional 739,331 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Oceaneering International by 79.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock worth $42,704,000 after purchasing an additional 734,518 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.