Oceaneering International (NYSE:OII) Given New $28.00 Price Target at Citigroup

Oceaneering International (NYSE:OII) had its price target lifted by Citigroup from $25.00 to $28.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other research analysts have also commented on the stock. Benchmark restated a buy rating and set a $34.00 price target on shares of Oceaneering International in a research report on Thursday, April 25th. StockNews.com lowered Oceaneering International from a buy rating to a hold rating in a research note on Friday, April 26th. Finally, Barclays reiterated an underweight rating and set a $21.00 price target (down previously from $22.00) on shares of Oceaneering International in a research report on Tuesday, May 14th.

Oceaneering International Stock Up 1.0 %

Shares of NYSE OII opened at $24.02 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.76 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.44 billion, a P/E ratio of 22.66 and a beta of 2.39. Oceaneering International has a 52 week low of $18.56 and a 52 week high of $27.46. The business has a 50-day simple moving average of $22.86 and a two-hundred day simple moving average of $22.06.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). The firm had revenue of $599.09 million during the quarter, compared to the consensus estimate of $613.58 million. Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. Research analysts anticipate that Oceaneering International will post 1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. increased its position in shares of Oceaneering International by 541.1% during the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock valued at $20,901,000 after purchasing an additional 829,000 shares during the last quarter. Norges Bank purchased a new stake in Oceaneering International in the fourth quarter worth approximately $15,161,000. Earnest Partners LLC grew its position in Oceaneering International by 9.3% during the first quarter. Earnest Partners LLC now owns 5,259,951 shares of the oil and gas company’s stock valued at $123,083,000 after acquiring an additional 445,419 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new position in shares of Oceaneering International during the fourth quarter worth approximately $8,884,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Oceaneering International by 46.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company’s stock worth $29,323,000 after acquiring an additional 398,209 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.