Analysts Set Oceaneering International (NYSE:OII) Target Price at $18.58

Oceaneering International (NYSE:OII) has been given an average recommendation of “Hold” by the seventeen analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $17.69.

A number of research firms recently issued reports on OII. Wolfe Research began coverage on Oceaneering International in a report on Wednesday, November 27th. They set an “outperform” rating and a $18.00 price objective for the company. ValuEngine cut Oceaneering International from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Sanford C. Bernstein began coverage on Oceaneering International in a report on Monday. They set an “underperform” rating and a $12.30 price objective for the company. Goldman Sachs Group upgraded Oceaneering International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $20.00 in a report on Tuesday, December 17th. Finally, Evercore ISI upgraded Oceaneering International from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $16.00 to $17.00 in a report on Thursday, December 12th.

OII traded down $0.28 during trading hours on Tuesday, reaching $15.44. 1,181,306 shares of the company’s stock traded hands, compared to its average volume of 1,434,778. The firm has a 50-day moving average price of $14.51 and a 200 day moving average price of $14.69. Oceaneering International has a 52-week low of $11.38 and a 52-week high of $21.29. The company has a quick ratio of 1.90, a current ratio of 2.29 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.58 billion, a PE ratio of -21.75 and a beta of 2.20.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, October 30th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.08). Oceaneering International had a negative net margin of 7.55% and a negative return on equity of 5.69%. The business had revenue of $497.65 million for the quarter, compared to analysts’ expectations of $527.81 million. During the same quarter in the previous year, the firm earned ($0.14) EPS. Oceaneering International’s revenue was down 4.2% compared to the same quarter last year. Equities analysts predict that Oceaneering International will post -1.03 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of OII. First Trust Advisors LP raised its position in Oceaneering International by 141.7% during the 1st quarter. First Trust Advisors LP now owns 140,671 shares of the oil and gas company’s stock valued at $2,218,000 after purchasing an additional 82,474 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Oceaneering International by 6.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,381 shares of the oil and gas company’s stock valued at $354,000 after purchasing an additional 1,055 shares in the last quarter. Bank of Montreal Can raised its position in Oceaneering International by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 48,313 shares of the oil and gas company’s stock valued at $986,000 after purchasing an additional 1,002 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Oceaneering International by 3.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 768,462 shares of the oil and gas company’s stock valued at $15,669,000 after purchasing an additional 24,179 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Oceaneering International by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,356,081 shares of the oil and gas company’s stock valued at $27,651,000 after purchasing an additional 156,291 shares in the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Analyst Recommendations for Oceaneering International (NYSE:OII)

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