Oceaneering International (NYSE:OII) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings upgraded Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Barclays raised their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. TD Cowen boosted their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Citigroup increased their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Oceaneering International currently has an average rating of “Hold” and an average price target of $41.00.

Oceaneering International Stock Performance

NYSE:OII opened at $48.00 on Friday. Oceaneering International has a 12 month low of $21.03 and a 12 month high of $53.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The firm has a market capitalization of $4.78 billion, a PE ratio of 13.79 and a beta of 1.15. The business’s fifty day moving average price is $41.86 and its 200 day moving average price is $37.55.

Insider Transactions at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Earl Childress sold 12,701 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the sale, the senior vice president owned 22,876 shares of the company’s stock, valued at approximately $1,068,537.96. This trade represents a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,901 shares of company stock valued at $985,554 over the last ninety days. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Oceaneering International

Large investors have recently modified their holdings of the stock. Leuthold Group LLC acquired a new stake in shares of Oceaneering International in the 4th quarter worth $3,548,000. Vanguard Group Inc. raised its holdings in Oceaneering International by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock worth $297,279,000 after purchasing an additional 187,707 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Oceaneering International in the fourth quarter valued at about $5,489,000. Fifth Third Bancorp boosted its holdings in Oceaneering International by 6,782.5% in the 1st quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company’s stock valued at $1,047,000 after purchasing an additional 29,097 shares in the last quarter. Finally, Granite Investment Partners LLC increased its position in Oceaneering International by 37.2% during the 1st quarter. Granite Investment Partners LLC now owns 327,053 shares of the oil and gas company’s stock worth $11,601,000 after purchasing an additional 88,673 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.