Oceaneering International (NYSE:OII) Rating Lowered to Hold at Zacks Research

Oceaneering International (NYSE:OII) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

Several other equities research analysts have also recently weighed in on the stock. Citigroup cut their price objective on shares of Oceaneering International from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Weiss Ratings cut Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Finally, Barclays lowered their price objective on Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, October 26th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $41.00.

Oceaneering International Trading Down 6.7%

Oceaneering International stock opened at $33.96 on Wednesday. The stock has a 50-day simple moving average of $45.06 and a 200 day simple moving average of $40.42. The stock has a market capitalization of $3.38 billion, a P/E ratio of 10.32 and a beta of 1.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.97 and a current ratio of 2.20. Oceaneering International has a 52 week low of $22.13 and a 52 week high of $54.25.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). The business had revenue of $784.55 million during the quarter, compared to the consensus estimate of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. Oceaneering International’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Analysts expect that Oceaneering International will post 2.10 earnings per share for the current year.

Insider Buying and Selling

In other Oceaneering International news, CEO Roderick Larson sold 6,000 shares of Oceaneering International stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.16, for a total transaction of $264,960.00. Following the transaction, the chief executive officer directly owned 385,279 shares of the company’s stock, valued at approximately $17,013,920.64. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of Oceaneering International

Institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new position in shares of Oceaneering International in the 3rd quarter worth approximately $26,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Oceaneering International in the 3rd quarter valued at $27,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Oceaneering International during the second quarter worth $35,000. Parallel Advisors LLC increased its position in shares of Oceaneering International by 53.2% during the third quarter. Parallel Advisors LLC now owns 835 shares of the oil and gas company’s stock worth $36,000 after buying an additional 290 shares during the period. Finally, Allworth Financial LP bought a new position in Oceaneering International during the second quarter worth $42,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.