Oceaneering International (NYSE:OII) Reaches New 52-Week Low – Here’s Why

Oceaneering International, Inc. (NYSE:OII) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $17.53 and last traded at $17.41, with a volume of 41755 shares traded. The stock had previously closed at $19.63.

Analyst Ratings Changes

OII has been the topic of a number of research analyst reports. Citigroup cut Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Friday, January 10th. StockNews.com cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Pickering Energy Partners upgraded Oceaneering International from an “underperform” rating to a “neutral” rating in a research report on Wednesday. Barclays reduced their price target on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Finally, TD Cowen boosted their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.25.

Oceaneering International Stock Down 12.9 %

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 stock has a 50 day simple moving average of $22.59 and a 200 day simple moving average of $25.08. The firm has a market capitalization of $1.72 billion, a PE ratio of 11.87 and a beta of 2.42.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $713.45 million during the quarter, compared to analysts’ expectations of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. As a group, sell-side analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Institutional Trading of Oceaneering International

Institutional investors have recently modified their holdings of the company. Inspire Advisors LLC lifted its holdings in Oceaneering International by 4.9% in the 4th quarter. Inspire Advisors LLC now owns 8,848 shares of the oil and gas company’s stock worth $231,000 after buying an additional 411 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Oceaneering International by 0.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,032 shares of the oil and gas company’s stock worth $1,853,000 after acquiring an additional 446 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Oceaneering International by 0.8% in the fourth quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company’s stock worth $1,467,000 after buying an additional 451 shares in the last quarter. Captrust Financial Advisors boosted its stake in Oceaneering International by 3.9% during the 3rd quarter. Captrust Financial Advisors now owns 15,271 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 578 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Oceaneering International by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company’s stock worth $276,000 after buying an additional 584 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.