Oceaneering International (NYSE:OII) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a research note released on Saturday morning.

Other research analysts have also recently issued research reports about the stock. Barclays lifted their target price on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Citigroup upped their price objective on Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. TD Cowen boosted their price target on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.00.

Oceaneering International Price Performance

Shares of Oceaneering International stock opened at $24.83 on Friday. The business’s 50-day moving average price is $24.37 and its 200-day moving average price is $23.39. The firm has a market capitalization of $2.48 billion, a PE ratio of 10.84 and a beta of 1.24. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $28.31. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.13. The company had revenue of $742.90 million for the quarter, compared to analysts’ expectations of $709.48 million. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. Sell-side analysts forecast that Oceaneering International will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Brown Advisory Inc. increased its position in Oceaneering International by 12.2% in the second quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock worth $152,202,000 after purchasing an additional 799,718 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Oceaneering International by 8.1% in the 3rd quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock worth $90,270,000 after buying an additional 272,667 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Oceaneering International by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,285,951 shares of the oil and gas company’s stock worth $81,429,000 after buying an additional 98,333 shares during the last quarter. Greenhouse Funds LLLP raised its position in shares of Oceaneering International by 9.9% during the 2nd quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock valued at $51,630,000 after buying an additional 223,724 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Oceaneering International by 916.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock valued at $28,219,000 after acquiring an additional 1,227,950 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

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.