Oceaneering International (NYSE:OII) Stock Rating Lowered by Citigroup

Oceaneering International (NYSE:OII) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $30.00 price target on the oil and gas company’s stock. Citigroup’s target price points to a potential upside of 13.46% from the stock’s previous close.

Several other research analysts have also commented on the company. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research report on Friday, October 25th. Finally, TD Cowen upped their target price on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.25.

Oceaneering International Trading Down 2.4 %

OII opened at $26.44 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 20.03 and a beta of 2.41. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Oceaneering International has a 12 month low of $18.95 and a 12 month high of $30.98. The stock has a fifty day moving average price of $27.23 and a 200-day moving average price of $26.11.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, equities research analysts anticipate that Oceaneering International will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of Oceaneering International

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in Oceaneering International during the 2nd quarter valued at about $38,000. Farther Finance Advisors LLC grew its stake in Oceaneering International by 3,594.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in Oceaneering International during the 3rd quarter valued at about $57,000. GAMMA Investing LLC grew its stake in Oceaneering International by 108.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 1,412 shares during the last quarter. Finally, CWM LLC grew its stake in Oceaneering International by 165.5% during the 3rd quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock valued at $172,000 after purchasing an additional 4,323 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

About Oceaneering International

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.