Oceaneering International (NYSE:OII) Stock Gets Price Target Cut from Citigroup

Oceaneering International (NYSE:OII) had its price target reduced by Citigroup from $52.00 to $45.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other analysts also recently issued reports on OII. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Weiss Ratings downgraded Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Finally, Barclays cut their target price on shares of Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Oceaneering International Stock Down 1.6%

OII opened at $40.92 on Thursday. The firm has a 50-day simple moving average of $46.18 and a two-hundred day simple moving average of $40.23. Oceaneering International has a 52 week low of $22.13 and a 52 week high of $54.25. The company has a market capitalization of $4.07 billion, a PE ratio of 12.44 and a beta of 1.25. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.40.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $784.55 million during the quarter, compared to the consensus estimate of $775.93 million. Oceaneering International had a return on equity of 16.87% and a net margin of 11.37%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. Analysts forecast that Oceaneering International will post 2.10 earnings per share for the current fiscal year.

Insider Activity at Oceaneering International

In other news, Director Paul B. Murphy, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the transaction, the director owned 68,916 shares of the company’s stock, valued at approximately $3,333,466.92. The trade was a 12.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Roderick A. Larson sold 6,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $44.16, for a total value of $264,960.00. Following the sale, the chief executive officer owned 391,279 shares in the company, valued at $17,278,880.64. The trade was a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is owned by company insiders.

Institutional Trading of Oceaneering International

A number of institutional investors have recently bought and sold shares of OII. BlackRock Inc. acquired a new position in Oceaneering International during the 2nd quarter worth about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in shares of Oceaneering International in the 2nd quarter valued at about $124,235,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Oceaneering International in the second quarter valued at about $92,100,000. Reinhart Partners LLC. acquired a new stake in shares of Oceaneering International in the second quarter valued at about $66,795,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Oceaneering International during the second quarter worth about $45,658,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.