Analysts Set Oceaneering International, Inc. (NYSE:OII) Price Target at $33.67

Shares of Oceaneering International, Inc. (NYSE:OII) have earned an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.6667.

Several brokerages have recently weighed in on OII. Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Barclays increased their price objective on shares of Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. TD Cowen increased their price objective on shares of Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st.

Oceaneering International Price Performance

Shares of NYSE:OII opened at $35.75 on Monday. The firm’s 50 day moving average price is $35.14 and its 200-day moving average price is $28.67. Oceaneering International has a twelve month low of $16.83 and a twelve month high of $39.00. The company has a quick ratio of 1.72, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3.57 billion, a PE ratio of 10.21 and a beta of 1.18.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The firm had revenue of $668.57 million for the quarter, compared to analysts’ expectations of $678.16 million. During the same quarter in the prior year, the business earned $0.37 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts expect that Oceaneering International will post 1.78 EPS for the current year.

Insider Activity at Oceaneering International

In other Oceaneering International news, COO Benjamin Laura sold 5,106 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $36.88, for a total transaction of $188,309.28. Following the sale, the chief operating officer owned 40,805 shares in the company, valued at approximately $1,504,888.40. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher J. Dyer sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $38.08, for a total transaction of $228,480.00. Following the sale, the senior vice president owned 15,902 shares in the company, valued at approximately $605,548.16. The trade was a 27.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,689 shares of company stock worth $4,204,360 in the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its stake in Oceaneering International by 297.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,069 shares of the oil and gas company’s stock worth $74,000 after acquiring an additional 2,296 shares during the period. Corient Private Wealth LLC raised its stake in Oceaneering International by 21.7% during the 4th quarter. Corient Private Wealth LLC now owns 12,600 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 2,245 shares during the period. State of Tennessee Department of Treasury raised its position in shares of Oceaneering International by 7.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 52,577 shares of the oil and gas company’s stock valued at $1,263,000 after buying an additional 3,533 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Oceaneering International during the fourth quarter valued at approximately $630,000. Finally, Mackenzie Financial Corp raised its position in shares of Oceaneering International by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 15,246 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 1,275 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

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.