Oceaneering International (NYSE:OII) Rating Lowered to “Hold” at Zacks Research

Oceaneering International (NYSE:OII) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

A number of other research analysts also recently commented on OII. Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. 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 research report on Monday, October 26th. Finally, Citigroup decreased their target price on shares of Oceaneering International from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, October 29th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Oceaneering International Trading Down 6.7%

NYSE:OII opened at $33.96 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.20 and a quick ratio of 1.97. Oceaneering International has a fifty-two week low of $22.13 and a fifty-two week high of $54.25. The stock’s 50-day moving average is $45.06 and its two-hundred day moving average is $40.42. The stock has a market cap of $3.38 billion, a PE ratio of 10.32 and a beta of 1.30.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The business had revenue of $784.55 million during the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. Oceaneering International’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, equities research analysts forecast that Oceaneering International will post 2.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oceaneering International news, CEO Roderick Larson sold 6,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the transaction, the chief executive officer directly owned 385,279 shares of the company’s stock, valued at $17,013,920.64. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oceaneering International

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Oceaneering International in the second quarter worth approximately $664,659,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in Oceaneering International in the second quarter valued at approximately $124,235,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Oceaneering International in the second quarter valued at approximately $92,100,000. Reinhart Partners LLC. acquired a new stake in Oceaneering International in the second quarter valued at approximately $66,795,000. Finally, Bank of New York Mellon Corp bought a new stake in Oceaneering International in the second quarter worth approximately $45,658,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.