Oceaneering International, Inc. (NYSE:OII) Receives Average Rating of “Hold” from Analysts

Shares of Oceaneering International, Inc. (NYSE:OII) have earned an average rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $25.00.

OII has been the subject of a number of research analyst reports. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. TD Cowen lifted 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 boosted their price objective on Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd.

Insider Transactions at Oceaneering International

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president directly owned 52,344 shares in the company, valued at approximately $1,379,264.40. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Oceaneering International by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after purchasing an additional 187,707 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Oceaneering International by 12.2% in the second quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock valued at $152,202,000 after buying an additional 799,718 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Oceaneering International by 8.1% during the third quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock worth $90,270,000 after buying an additional 272,667 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Oceaneering International by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,285,951 shares of the oil and gas company’s stock worth $81,429,000 after buying an additional 98,333 shares during the last quarter. Finally, Greenhouse Funds LLLP grew its holdings in shares of Oceaneering International by 9.9% during the second quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock worth $51,630,000 after buying an additional 223,724 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Price Performance

Shares of Oceaneering International stock opened at $30.12 on Wednesday. The business has a 50 day simple moving average of $26.16 and a two-hundred day simple moving average of $24.36. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $31.44. The stock has a market capitalization of $3.01 billion, a P/E ratio of 13.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.97 and a quick ratio of 1.68.

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.