Oceaneering International (NYSE:OII) Trading Down 5.7% – Should You Sell?

Oceaneering International, Inc. (NYSE:OII)’s share price was down 5.7% during trading on Tuesday . The stock traded as low as $24.32 and last traded at $24.3960. Approximately 165,055 shares were traded during trading, a decline of 80% from the average daily volume of 810,225 shares. The stock had previously closed at $25.86.

Wall Street Analysts Forecast Growth

OII has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday. Citigroup upped their price objective on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. TD Cowen raised their target price 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. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Finally, Barclays increased their price target on shares of Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Oceaneering International Price Performance

The firm has a market capitalization of $2.33 billion, a P/E ratio of 10.18 and a beta of 1.29. The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $24.13 and its 200 day simple moving average is $23.10.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.42 by $0.13. The company had revenue of $742.90 million for 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 firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. Sell-side analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Institutional Trading of Oceaneering International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Oceaneering International by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,331,297 shares of the oil and gas company’s stock worth $29,036,000 after buying an additional 32,639 shares during the period. Nuveen LLC bought a new stake in Oceaneering International in the 1st quarter worth $11,993,000. Russell Investments Group Ltd. increased its position in shares of Oceaneering International by 57.1% in the first quarter. Russell Investments Group Ltd. now owns 153,353 shares of the oil and gas company’s stock valued at $3,345,000 after acquiring an additional 55,717 shares during the period. Versor Investments LP increased its position in shares of Oceaneering International by 115.1% in the first quarter. Versor Investments LP now owns 21,293 shares of the oil and gas company’s stock valued at $464,000 after acquiring an additional 11,393 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Oceaneering International by 17.5% during the first quarter. Hsbc Holdings PLC now owns 49,377 shares of the oil and gas company’s stock valued at $1,074,000 after acquiring an additional 7,341 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

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.