Oceaneering International (NYSE:OII) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Citigroup raised their price target on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Barclays lifted their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Oceaneering International Stock Performance

OII opened at $43.78 on Friday. Oceaneering International has a 12-month low of $22.13 and a 12-month high of $54.25. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 12.58 and a beta of 1.25. The business has a 50 day moving average of $48.29 and a 200-day moving average of $42.74. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.46 by $0.17. The company had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. On average, equities research analysts expect that Oceaneering International will post 2.10 earnings per share for the current year.

Insider Activity

In other Oceaneering International news, SVP Christopher Dyer sold 1,200 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president owned 14,702 shares in the company, valued at $700,550.30. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Earl Childress sold 12,701 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the sale, the senior vice president directly owned 22,876 shares of the company’s stock, valued at approximately $1,068,537.96. The trade was a 35.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 32,901 shares of company stock valued at $1,542,864. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in Oceaneering International in the second quarter valued at about $35,000. Allworth Financial LP bought a new stake in Oceaneering International during the second quarter worth about $42,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Oceaneering International during the first quarter worth about $53,000. Public Employees Retirement System of Ohio acquired a new stake in Oceaneering International during the second quarter worth about $54,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Oceaneering International during the second quarter worth about $66,000. Institutional investors own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.