Wall Street Zen Downgrades Oceaneering International (NYSE:OII) to Hold

Oceaneering International (NYSE:OII) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

OII has been the topic of several other research reports. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a research report on Wednesday. Barclays lifted their target price on Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. TD Cowen boosted their target price on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Finally, Citigroup upped their target price on Oceaneering International from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

Oceaneering International Price Performance

Shares of Oceaneering International stock opened at $22.73 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $23.93 and its two-hundred day moving average price is $21.96. Oceaneering International has a 52 week low of $15.46 and a 52 week high of $30.98. The stock has a market cap of $2.27 billion, a PE ratio of 9.92 and a beta of 1.55.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.13. The company had revenue of $742.90 million during the quarter, compared to analyst estimates of $709.48 million. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, sell-side analysts anticipate that Oceaneering International will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In other news, CFO Alan R. Curtis sold 14,840 shares of Oceaneering International stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total transaction of $361,502.40. Following the transaction, the chief financial officer owned 155,259 shares in the company, valued at approximately $3,782,109.24. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

A number of institutional investors have recently bought and sold shares of OII. Smartleaf Asset Management LLC increased its holdings in Oceaneering International by 15.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 469 shares in the last quarter. Profund Advisors LLC grew its holdings in shares of Oceaneering International by 3.4% during the second quarter. Profund Advisors LLC now owns 17,032 shares of the oil and gas company’s stock worth $353,000 after purchasing an additional 559 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Oceaneering International by 47.5% in the third quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 629 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Oceaneering International by 0.7% in the second quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company’s stock valued at $1,934,000 after buying an additional 634 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in Oceaneering International by 9.1% during the 2nd quarter. Central Pacific Bank Trust Division now owns 10,070 shares of the oil and gas company’s stock worth $209,000 after buying an additional 840 shares in 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.