Oceaneering International, Inc. (NYSE:OII) Receives $25.00 Consensus Price Target from Analysts

Oceaneering International, Inc. (NYSE:OII) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of equities analysts have commented on OII shares. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. TD Cowen increased their price objective on Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Barclays lifted their target price on shares of Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings raised shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday.

Oceaneering International Price Performance

Oceaneering International stock opened at $38.85 on Friday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 11.10 and a beta of 1.26. The company’s fifty day moving average price is $28.75 and its 200 day moving average price is $25.73. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.99. Oceaneering International has a 1 year low of $15.46 and a 1 year high of $38.98.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data 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. The business had revenue of $668.57 million for the quarter, compared to the consensus estimate of $678.16 million. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. As a group, equities research analysts anticipate that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $768,234.25. Following the transaction, the senior vice president directly owned 52,344 shares in the company, valued at $1,379,264.40. The trade was a 35.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors and hedge funds have recently bought and sold shares of OII. SummerHaven Investment Management LLC purchased a new position in Oceaneering International in the third quarter worth approximately $967,000. Essex Investment Management Co. LLC lifted its stake in shares of Oceaneering International by 58.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 159,261 shares of the oil and gas company’s stock valued at $3,946,000 after purchasing an additional 58,925 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Oceaneering International by 1,377.0% during the 3rd quarter. SG Americas Securities LLC now owns 156,547 shares of the oil and gas company’s stock worth $3,879,000 after purchasing an additional 145,948 shares during the period. CenterBook Partners LP purchased a new stake in Oceaneering International in the 3rd quarter valued at about $409,000. Finally, Greenhouse Funds LLLP raised its holdings in Oceaneering International by 9.9% in the 2nd quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock valued at $51,630,000 after buying an additional 223,724 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.