Oceaneering International (NYSE:OII) Price Target Raised to $32.00

Oceaneering International (NYSE:OII) had its target price upped by Barclays from $23.00 to $32.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

A number of other brokerages have also issued reports on OII. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. TD Cowen boosted their price target on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.00.

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $37.93 on Monday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.84 and a beta of 1.26. Oceaneering International has a fifty-two week low of $15.46 and a fifty-two week high of $39.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.68. The firm’s 50 day simple moving average is $29.03 and its 200 day simple moving average is $25.81.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $668.57 million during the quarter, compared to analysts’ expectations of $678.16 million. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, sell-side analysts forecast that Oceaneering International will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Oceaneering International

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.35, for a total value of $768,234.25. Following the sale, the senior vice president directly owned 52,344 shares of the company’s stock, valued at $1,379,264.40. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Oceaneering International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new stake in shares of Oceaneering International during the third quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new position in Oceaneering International during the third quarter worth $28,000. EverSource Wealth Advisors LLC grew its position in Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 1,111 shares during the period. Quarry LP acquired a new position in shares of Oceaneering International during the third quarter valued at about $30,000. Finally, SBI Securities Co. Ltd. boosted its stake in Oceaneering International by 255.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. 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.