Oceaneering International (NYSE:OII) Lowered to Hold Rating by StockNews.com

Oceaneering International (NYSE:OII) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other analysts also recently issued reports on the company. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. TD Cowen lifted their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Citigroup downgraded shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, January 10th. Finally, Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.25.

Oceaneering International Price Performance

Shares of NYSE:OII opened at $22.09 on Friday. The company has a market capitalization of $2.45 billion, a P/E ratio of 15.34 and a beta of 2.38. The company’s 50-day moving average is $25.42 and its 200 day moving average is $25.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. Oceaneering International has a fifty-two week low of $19.68 and a fifty-two week high of $30.98.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $681.60 million. On average, equities research analysts forecast that Oceaneering International will post 1.78 earnings per share for the current year.

Institutional Trading of Oceaneering International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in Oceaneering International during the 4th quarter valued at about $40,000. Farther Finance Advisors LLC grew its stake in Oceaneering International by 3,594.3% during 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 acquiring an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in Oceaneering International during the 3rd quarter worth approximately $57,000. Tower Research Capital LLC TRC lifted its stake in Oceaneering International by 191.5% in the 4th 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 stake in Oceaneering International by 354.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 3,157 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

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.