Wall Street Zen Downgrades Oceaneering International (NYSE:OII) to Hold

Oceaneering International (NYSE:OII) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Citigroup increased their target price on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. TD Cowen raised their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Finally, Barclays lifted their price target 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. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.00.

Oceaneering International Trading Up 0.1%

Shares of Oceaneering International stock opened at $48.00 on Friday. Oceaneering International has a 52-week low of $21.03 and a 52-week high of $53.98. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $41.86 and its 200-day simple moving average is $37.62. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 13.79 and a beta of 1.15.

Insider Transactions at Oceaneering International

In related news, CEO Roderick A. Larson sold 5,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the sale, the chief executive officer directly owned 397,279 shares in the company, valued at $15,203,867.33. The trade was a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the sale, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,901 shares of company stock worth $985,554. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Oceaneering International

Several institutional investors and hedge funds have recently modified their holdings of OII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oceaneering International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock worth $1,312,000 after purchasing an additional 2,633 shares in the last quarter. Empowered Funds LLC lifted its stake in Oceaneering International by 1.9% in the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after buying an additional 2,310 shares in the last quarter. Strs Ohio acquired a new stake in Oceaneering International during the 1st quarter valued at $168,000. Norges Bank acquired a new stake in Oceaneering International during the 2nd quarter valued at $1,485,000. Finally, Invesco Ltd. increased its position in Oceaneering International by 8.0% during the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock worth $13,472,000 after buying an additional 48,382 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.