Brokerages Set Oceaneering International (NYSE:OII) Target Price at $20.75

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Shares of Oceaneering International (NYSE:OII) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $20.75.

A number of research firms have weighed in on OII. Seaport Global Securities raised shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, May 7th. ValuEngine upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Cowen restated a “market perform” rating and set a $19.00 price target (up previously from $16.00) on shares of Oceaneering International in a report on Friday, May 3rd. Barclays restated a “buy” rating and set a $21.00 price target on shares of Oceaneering International in a report on Sunday, May 5th. Finally, Citigroup set a $17.00 price target on shares of Oceaneering International and gave the stock a “hold” rating in a report on Tuesday, February 26th.

In other news, CAO Witland J. Jr. Leblanc sold 2,879 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $19.02, for a total transaction of $54,758.58. Following the completion of the sale, the chief accounting officer now owns 15,092 shares in the company, valued at approximately $287,049.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of OII. Arizona State Retirement System increased its holdings in Oceaneering International by 1.1% in the 4th quarter. Arizona State Retirement System now owns 70,721 shares of the oil and gas company’s stock valued at $856,000 after purchasing an additional 758 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Oceaneering International by 4.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 16,588 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 700 shares during the last quarter. Rhumbline Advisers increased its holdings in Oceaneering International by 63.8% in the 4th quarter. Rhumbline Advisers now owns 305,247 shares of the oil and gas company’s stock valued at $3,693,000 after purchasing an additional 118,841 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Oceaneering International in the 4th quarter valued at approximately $193,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Oceaneering International in the 4th quarter valued at approximately $128,000. Hedge funds and other institutional investors own 96.74% of the company’s stock.

OII traded up $0.62 during trading on Friday, reaching $19.67. The company’s stock had a trading volume of 31,194 shares, compared to its average volume of 1,093,537. The company has a current ratio of 2.44, a quick ratio of 2.03 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $17.69. Oceaneering International has a 1 year low of $10.74 and a 1 year high of $28.62. The company has a market capitalization of $1.84 billion, a P/E ratio of -27.75 and a beta of 2.08.

Oceaneering International (NYSE:OII) last released its earnings results on Monday, April 29th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.21. Oceaneering International had a negative net margin of 9.46% and a negative return on equity of 3.64%. The business had revenue of $493.89 million for the quarter, compared to analyst estimates of $466.33 million. During the same period last year, the company posted ($0.41) EPS. The business’s revenue was up 18.6% on a year-over-year basis. On average, equities analysts expect that Oceaneering International will post -0.73 earnings per share for the current fiscal year.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Analyst Recommendations for Oceaneering International (NYSE:OII)

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