Barclays Increases Oceaneering International (NYSE:OII) Price Target to $32.00

Oceaneering International (NYSE:OII) had its price target increased by equities researchers at Barclays from $23.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target would indicate a potential downside of 12.59% from the company’s current price.

A number of other analysts also recently commented on the company. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 29th. TD Cowen increased their price objective on shares of Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Oceaneering International has a consensus rating of “Hold” and an average target price of $28.00.

Oceaneering International Price Performance

OII traded up $1.82 on Monday, hitting $36.61. 556,962 shares of the company were exchanged, compared to its average volume of 1,211,816. Oceaneering International has a fifty-two week low of $15.46 and a fifty-two week high of $37.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.99. The firm has a market capitalization of $3.65 billion, a P/E ratio of 10.46 and a beta of 1.25. The business’s fifty day moving average is $28.23 and its 200 day moving average is $25.49.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 EPS. As a group, sell-side analysts anticipate that Oceaneering International will post 1.78 EPS for the current year.

Insider Activity

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president directly owned 52,344 shares of the company’s stock, valued at $1,379,264.40. This trade represents a 35.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors and hedge funds have recently modified their holdings of OII. Salomon & Ludwin LLC purchased a new stake in Oceaneering International in the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International during the third quarter worth $28,000. Quarry LP acquired a new stake in shares of Oceaneering International during the third quarter worth $30,000. SBI Securities Co. Ltd. grew its position in shares of Oceaneering International by 255.1% in the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 1,111 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.