Citigroup Raises Oceaneering International (NYSE:OII) Price Target to $52.00

Oceaneering International (NYSE:OII) had its target price increased by stock analysts at Citigroup from $40.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s target price suggests a potential upside of 2.54% from the stock’s current price.

OII has been the subject of a number of other reports. TD Cowen raised their price target on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays upped their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Oceaneering International Trading Down 0.8%

NYSE OII traded down $0.41 during trading on Tuesday, hitting $50.71. The stock had a trading volume of 230,158 shares, compared to its average volume of 1,176,349. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 14.55 and a beta of 1.15. Oceaneering International has a one year low of $21.45 and a one year high of $53.98. The stock has a 50 day simple moving average of $42.13 and a 200 day simple moving average of $37.79.

Insider Buying and Selling

In related news, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total value of $593,263.71. Following the completion of the transaction, the senior vice president owned 22,876 shares in the company, valued at $1,068,537.96. The trade was a 35.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Roderick A. Larson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This trade represents a 1.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,901 shares of company stock valued at $1,469,254 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC increased its stake in Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 1,111 shares during the last quarter. Quarry LP purchased a new position in Oceaneering International in the third quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Oceaneering International during the first quarter worth approximately $53,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Oceaneering International by 248.8% during the 4th quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock worth $55,000 after buying an additional 1,627 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

About Oceaneering International

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.