Piper Sandler Increases Oceaneering International (NYSE:OII) Price Target to $25.00

Oceaneering International (NYSE:OIIGet Rating) had its target price raised by equities research analysts at Piper Sandler from $22.50 to $25.00 in a note issued to investors on Monday, The Fly reports. Piper Sandler’s target price would suggest a potential upside of 65.45% from the company’s current price.

Separately, StockNews.com started coverage on Oceaneering International in a report on Thursday, March 31st. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Oceaneering International presently has a consensus rating of “Buy” and a consensus target price of $17.33.

NYSE:OII opened at $15.11 on Monday. Oceaneering International has a one year low of $9.41 and a one year high of $18.20. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.06 and a current ratio of 2.37. The firm has a market capitalization of $1.51 billion, a PE ratio of -30.84 and a beta of 3.03. The firm has a 50 day moving average of $15.14.

Oceaneering International (NYSE:OIIGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The oil and gas company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Oceaneering International had a positive return on equity of 3.09% and a negative net margin of 2.64%. The firm had revenue of $466.71 million during the quarter, compared to analysts’ expectations of $467.96 million. During the same quarter last year, the firm earned $0.02 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that Oceaneering International will post 0.38 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Oceaneering International by 7.1% during the fourth quarter. BlackRock Inc. now owns 18,822,569 shares of the oil and gas company’s stock worth $212,883,000 after buying an additional 1,243,383 shares during the period. Van ECK Associates Corp raised its stake in shares of Oceaneering International by 16.6% in the third quarter. Van ECK Associates Corp now owns 5,956,554 shares of the oil and gas company’s stock valued at $79,341,000 after acquiring an additional 846,680 shares in the last quarter. State Street Corp raised its stake in shares of Oceaneering International by 2.9% in the fourth quarter. State Street Corp now owns 4,230,517 shares of the oil and gas company’s stock valued at $47,847,000 after acquiring an additional 118,760 shares in the last quarter. Sourcerock Group LLC raised its stake in shares of Oceaneering International by 41.3% in the fourth quarter. Sourcerock Group LLC now owns 3,299,713 shares of the oil and gas company’s stock valued at $37,320,000 after acquiring an additional 964,944 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Oceaneering International by 6.2% in the third quarter. Geode Capital Management LLC now owns 1,846,454 shares of the oil and gas company’s stock valued at $24,594,000 after acquiring an additional 107,988 shares in the last quarter. Institutional investors and hedge funds own 86.47% of the company’s stock.

Oceaneering International Company Profile (Get Rating)

Oceaneering International, Inc provides engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair.

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