Oceaneering International, Inc. (NYSE:OII) Receives $29.25 Consensus Price Target from Analysts

Shares of Oceaneering International, Inc. (NYSE:OII) have received an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $29.25.

OII has been the topic of a number of recent research reports. Pickering Energy Partners downgraded Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Benchmark restated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $22.00 to $26.00 in a research note on Wednesday, December 18th. Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Friday, January 10th. Finally, TD Cowen upped their price target on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th.

Institutional Trading of Oceaneering International

Hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC boosted its holdings in shares of Oceaneering International by 23.1% in the third quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock valued at $2,487,000 after acquiring an additional 18,760 shares during the period. Stifel Financial Corp boosted its stake in Oceaneering International by 51.8% during the 3rd quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company’s stock worth $1,715,000 after purchasing an additional 23,512 shares during the period. Fisher Asset Management LLC grew its position in Oceaneering International by 32.3% during the 3rd quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock worth $3,292,000 after purchasing an additional 32,297 shares during the last quarter. Earnest Partners LLC grew its position in Oceaneering International by 21.0% during the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after purchasing an additional 1,105,263 shares during the last quarter. Finally, Barclays PLC increased its stake in Oceaneering International by 334.5% in the third quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock valued at $4,489,000 after purchasing an additional 138,931 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Stock Performance

NYSE:OII opened at $26.68 on Friday. The stock has a 50-day moving average price of $27.11 and a 200 day moving average price of $26.25. The stock has a market capitalization of $2.70 billion, a P/E ratio of 20.21 and a beta of 2.41. Oceaneering International has a 12-month low of $19.51 and a 12-month high of $30.98. 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 (NYSE:OII) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business had revenue of $679.81 million for the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. Oceaneering International’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 EPS. Equities research analysts forecast that Oceaneering International will post 1.37 EPS for the current fiscal year.

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.