Oceaneering International (NYSE:OII) Price Target Raised to $52.00

Oceaneering International (NYSE:OII) had its price target lifted by Citigroup from $40.00 to $52.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays lifted their target price 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 target price 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, Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Oceaneering International has a consensus rating of “Hold” and an average price target of $45.00.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $51.43 on Tuesday. The business’s 50-day simple moving average is $42.86 and its 200-day simple moving average is $38.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. Oceaneering International has a 52 week low of $21.78 and a 52 week high of $53.98. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 14.78 and a beta of 1.15.

Insider Transactions at Oceaneering International

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the firm’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 completion of the sale, the chief executive officer owned 397,279 shares in the company, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the sale, the director directly owned 68,916 shares in the company, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 31,901 shares of company stock worth $1,469,254. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds have recently made changes to their positions in the business. Leuthold Group LLC bought a new stake in Oceaneering International during the fourth quarter worth about $3,548,000. Vanguard Group Inc. raised its stake in shares of Oceaneering International by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after acquiring an additional 187,707 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Oceaneering International in the 4th quarter worth approximately $5,489,000. Fifth Third Bancorp boosted its holdings in shares of 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 worth $1,047,000 after acquiring an additional 29,097 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its position in Oceaneering International by 22.0% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 568,734 shares of the oil and gas company’s stock worth $13,667,000 after acquiring an additional 102,676 shares during the last quarter. Institutional investors and hedge funds 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.