Oceaneering International (NYSE:OII) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Separately, Barclays lowered their price objective on shares of Oceaneering International from $23.00 to $22.00 and set an equal weight rating on the stock in a research report on Thursday, February 29th.

Oceaneering International Price Performance

Shares of OII opened at $22.28 on Thursday. Oceaneering International has a twelve month low of $14.99 and a twelve month high of $27.46. The firm’s fifty day simple moving average is $22.27 and its 200-day simple moving average is $21.82. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 23.45 and a beta of 2.49. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75.

Oceaneering International (NYSE:OII) last posted its earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $654.60 million during the quarter, compared to analysts’ expectations of $624.81 million. Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. Equities analysts forecast that Oceaneering International will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SteelPeak Wealth LLC purchased a new stake in shares of Oceaneering International in the first quarter valued at about $516,000. Hennessy Advisors Inc. lifted its stake in shares of Oceaneering International by 18.8% in the first quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock valued at $27,296,000 after purchasing an additional 184,300 shares during the period. Vanguard Group Inc. lifted its stake in shares of Oceaneering International by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 12,461,454 shares of the oil and gas company’s stock valued at $265,180,000 after purchasing an additional 246,067 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Oceaneering International by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 461,128 shares of the oil and gas company’s stock valued at $9,813,000 after purchasing an additional 76,252 shares during the period. Finally, Pineridge Advisors LLC acquired a new stake in shares of Oceaneering International in the fourth quarter valued at about $44,000. 93.93% of the stock is owned by hedge funds and other 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.