Oceaneering International (NYSE:OII) Price Target Raised to $34.00

Oceaneering International (NYSE:OII) had its price objective raised by TD Cowen from $28.00 to $34.00 in a report issued on Tuesday morning, MarketBeat reports. They currently have a hold rating on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on OII. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Barclays raised their price target on Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Oceaneering International presently has an average rating of “Moderate Buy” and an average target price of $30.33.

Oceaneering International Stock Performance

Shares of OII opened at $34.44 on Tuesday. The stock has a market capitalization of $3.42 billion, a PE ratio of 9.84 and a beta of 1.18. The business’s fifty day moving average price is $30.41 and its 200 day moving average price is $26.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. Oceaneering International has a 12-month low of $15.46 and a 12-month high of $39.00.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The company had revenue of $668.57 million for the quarter, compared to analysts’ expectations of $678.16 million. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts forecast that Oceaneering International will post 1.78 EPS for the current year.

Insider Activity

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.35, for a total value of $768,234.25. Following the completion of the transaction, the senior vice president directly owned 52,344 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, SVP Holly Kriendler sold 19,007 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.73, for a total value of $717,134.11. Following the sale, the senior vice president directly owned 30,500 shares in the company, valued at approximately $1,150,765. The trade was a 38.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 140,844 shares of company stock worth $4,972,594 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in Oceaneering International in the third quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Oceaneering International during the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 worth $30,000 after purchasing an additional 1,111 shares during the last quarter. Quarry LP bought a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. lifted its stake in Oceaneering International by 255.1% during the third 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.