Oceaneering International (NYSE:OII) Stock Price Down 6.6% – Should You Sell?

Oceaneering International, Inc. (NYSE:OII) shares traded down 6.6% on Friday . The company traded as low as $32.90 and last traded at $33.1170. 456,268 shares were traded during trading, a decline of 65% from the average session volume of 1,287,424 shares. The stock had previously closed at $35.44.

Analyst Upgrades and Downgrades

OII has been the topic of several analyst reports. Zacks Research cut Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. TD Cowen increased their price target on Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. 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. Barclays upped their price objective on shares of Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, Citigroup raised their target price on shares of Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and a consensus price target of $33.67.

Oceaneering International Stock Performance

The company has a fifty day moving average price of $31.52 and a two-hundred day moving average price of $26.78. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 9.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 EPS 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 period in the previous year, the business earned $0.37 earnings per share. Oceaneering International’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Insiders Place Their Bets

In other Oceaneering International news, SVP Holly Kriendler sold 5,798 shares of Oceaneering International stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $37.31, for a total value of $216,323.38. Following the transaction, the senior vice president owned 24,702 shares in the company, valued at approximately $921,631.62. The trade was a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher J. Dyer sold 6,000 shares of Oceaneering International stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $38.08, for a total value of $228,480.00. Following the completion of the transaction, the senior vice president owned 15,902 shares in the company, valued at $605,548.16. The trade was a 27.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 140,844 shares of company stock worth $4,972,594. Company 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. Corient Private Wealth LLC increased its position in Oceaneering International by 21.7% in the 4th quarter. Corient Private Wealth LLC now owns 12,600 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 2,245 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of Oceaneering International by 7.2% during the 4th 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 in the 4th quarter valued at approximately $630,000. Mackenzie Financial Corp increased its holdings in Oceaneering International by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 15,246 shares of the oil and gas company’s stock worth $370,000 after buying an additional 1,275 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Oceaneering International by 2.9% during the fourth quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock valued at $470,000 after acquiring an additional 545 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.