Oceaneering International (NYSE:OII) Shares Gap Up to $23.05

Oceaneering International, Inc. (NYSE:OII) gapped up prior to trading on Thursday . The stock had previously closed at $23.05, but opened at $23.91. Oceaneering International shares last traded at $22.99, with a volume of 397,988 shares.

Wall Street Analyst Weigh In

OII has been the topic of several recent research reports. StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Friday. Barclays cut their price target on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Finally, Benchmark restated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research report on Thursday.

Oceaneering International Trading Up 1.4 %

The company has a current ratio of 1.76, a quick ratio of 1.50 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 23.49 and a beta of 2.49. The firm has a 50-day moving average of $22.54 and a 200 day moving average of $21.80.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.16). Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. The firm had revenue of $599.09 million for the quarter, compared to analyst estimates of $613.58 million. As a group, equities analysts predict that Oceaneering International, Inc. will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Hedge funds have recently modified their holdings of the company. Glenorchy Capital Ltd acquired a new position in shares of Oceaneering International during the 4th quarter valued at $1,488,000. Louisiana State Employees Retirement System acquired a new position in shares of Oceaneering International in the 4th quarter worth $1,073,000. Invesco Ltd. grew its holdings in shares of Oceaneering International by 27.0% in the 3rd quarter. Invesco Ltd. now owns 1,202,565 shares of the oil and gas company’s stock worth $30,930,000 after acquiring an additional 256,036 shares during the last quarter. FMR LLC grew its holdings in shares of Oceaneering International by 18.9% in the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after acquiring an additional 705,534 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of Oceaneering International by 541.1% in the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after acquiring an additional 829,000 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.