Oceaneering International (NYSE:OII) Upgraded at Zacks Research

Zacks Research upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks reports.

A number of other analysts have also issued reports on OII. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Barclays raised their price objective on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Citigroup lifted their price objective on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Oceaneering International Stock Up 1.9%

Shares of NYSE:OII opened at $44.51 on Tuesday. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 12.79 and a beta of 1.25. The company has a 50 day moving average of $48.87 and a two-hundred day moving average of $42.46. Oceaneering International has a 52-week low of $22.02 and a 52-week high of $54.25. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The business had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that Oceaneering International will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Earl Childress sold 12,701 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total value of $593,263.71. Following the sale, the senior vice president owned 22,876 shares in the company, valued at approximately $1,068,537.96. This represents a 35.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director M. McEvoy sold 3,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the transaction, the director directly owned 134,133 shares in the company, valued at $6,427,653.36. The trade was a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 32,901 shares of company stock worth $1,542,864. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Oceaneering International in the 2nd quarter worth approximately $664,659,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in shares of Oceaneering International during the 4th quarter valued at approximately $94,847,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Oceaneering International during the second quarter worth $92,100,000. Reinhart Partners LLC. bought a new position in Oceaneering International during the second quarter worth $66,795,000. Finally, Bank of New York Mellon Corp bought a new position in Oceaneering International during the second quarter worth $45,658,000. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.