Oceaneering International (NYSE:OII) Earns Buy Rating from Benchmark

Oceaneering International (NYSE:OII)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a report released on Thursday, Benzinga reports. They presently have a $34.00 price target on the oil and gas company’s stock. Benchmark’s price objective would indicate a potential upside of 47.00% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Barclays reduced their price objective on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. StockNews.com upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th.

Oceaneering International Stock Up 0.3 %

Oceaneering International stock traded up $0.08 during midday trading on Thursday, reaching $23.13. The company’s stock had a trading volume of 565,509 shares, compared to its average volume of 813,523. Oceaneering International has a fifty-two week low of $14.99 and a fifty-two week high of $27.46. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.35 billion, a P/E ratio of 24.48 and a beta of 2.49. The business has a 50-day simple moving average of $22.43 and a 200-day simple moving average of $21.77.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data 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 return on equity of 14.00% and a net margin of 4.02%. The firm had revenue of $599.09 million for the quarter, compared to analysts’ expectations of $613.58 million. On average, research analysts expect that Oceaneering International will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently modified their holdings of OII. SG Americas Securities LLC acquired a new stake in shares of Oceaneering International during the 3rd quarter valued at approximately $876,000. Exchange Traded Concepts LLC acquired a new position in shares of Oceaneering International during the 3rd quarter worth approximately $93,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Oceaneering International in the 3rd quarter worth approximately $206,000. Raymond James & Associates grew its stake in Oceaneering International by 17.7% in the 3rd quarter. Raymond James & Associates now owns 58,092 shares of the oil and gas company’s stock worth $1,494,000 after acquiring an additional 8,729 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Oceaneering International by 79.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock worth $42,704,000 after acquiring an additional 734,518 shares during the period. 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.