Oceaneering International (NYSE:OII) Shares Gap Down After Analyst Downgrade

Shares of Oceaneering International, Inc. (NYSE:OII) gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $26.00 to $22.00. The stock had previously closed at $20.15, but opened at $19.64. Barclays currently has an equal weight rating on the stock. Oceaneering International shares last traded at $19.19, with a volume of 89,907 shares changing hands.

A number of other research analysts have also issued reports on the company. StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. TD Cowen lifted their price objective on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. Finally, Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Oceaneering International has a consensus rating of “Hold” and an average price target of $28.25.

Institutional Trading of Oceaneering International

A number of institutional investors have recently bought and sold shares of OII. R Squared Ltd acquired a new stake in shares of Oceaneering International during the 4th quarter worth about $40,000. Farther Finance Advisors LLC increased its stake in Oceaneering International by 3,594.3% in the third 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 acquired a new stake in Oceaneering International during the third quarter worth approximately $57,000. Tower Research Capital LLC TRC raised its holdings in Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 2,131 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Oceaneering International by 354.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 3,157 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $25.14 and its 200-day moving average price is $25.78. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 13.71 and a beta of 2.38.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. The company had revenue of $713.45 million during the quarter, compared to analyst estimates of $681.60 million. Analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

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.