Oceaneering International (NYSE:OII) Trading Down 5.7% – Time to Sell?

Oceaneering International, Inc. (NYSE:OII) shares were down 5.7% during mid-day trading on Tuesday . The company traded as low as $24.32 and last traded at $24.3960. Approximately 165,055 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 810,225 shares. The stock had previously closed at $25.86.

Analyst Upgrades and Downgrades

OII has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 8th. TD Cowen upped their price target on Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Barclays raised their target price on shares of Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Citigroup lifted their price target on Oceaneering International from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Finally, Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.00.

Oceaneering International Price Performance

The firm has a fifty day moving average of $24.13 and a 200 day moving average of $23.05. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.40 billion, a P/E ratio of 10.48 and a beta of 1.29.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.13. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The firm had revenue of $742.90 million for the quarter, compared to the consensus estimate of $709.48 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds have recently added to or reduced their stakes in the stock. CSM Advisors LLC lifted its stake in shares of Oceaneering International by 3.1% in the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after purchasing an additional 428 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Oceaneering International by 15.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 469 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Oceaneering International by 3.4% during the second quarter. Profund Advisors LLC now owns 17,032 shares of the oil and gas company’s stock worth $353,000 after acquiring an additional 559 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Oceaneering International by 47.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 629 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Oceaneering International by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company’s stock valued at $1,934,000 after buying an additional 634 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

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.