Oceaneering International (NYSE:OII) Stock Gets Price Target Reduction from Barclays

Oceaneering International (NYSE:OII) had its price target reduced by Barclays from $47.00 to $42.00 in a research note published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities 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. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Citigroup increased their price target on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. One equities research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.33.

Oceaneering International Price Performance

OII opened at $41.65 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.97 and a current ratio of 2.20. The stock has a market capitalization of $4.15 billion, a P/E ratio of 12.66 and a beta of 1.25. The company’s 50-day simple moving average is $46.63 and its two-hundred day simple moving average is $40.08. Oceaneering International has a 52-week low of $22.13 and a 52-week high of $54.25.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The company 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 business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, analysts predict that Oceaneering International will post 2.10 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Oceaneering International

Several institutional investors and hedge funds have recently bought and sold shares of OII. Allworth Financial LP raised its stake in Oceaneering International by 63.2% during the 2nd quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 405 shares during the period. Root Financial Partners LLC purchased a new position in Oceaneering International during the third quarter valued at approximately $26,000. Choreo LLC lifted its holdings in Oceaneering International by 5.8% during the third quarter. Choreo LLC now owns 11,509 shares of the oil and gas company’s stock valued at $502,000 after purchasing an additional 630 shares in the last quarter. Carlson Capital L.P. boosted its position in shares of Oceaneering International by 2.5% in the first quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company’s stock worth $1,163,000 after purchasing an additional 800 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Oceaneering International in the second quarter worth approximately $35,000. 93.93% of the stock is currently owned by hedge funds and other 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.