StockNews.com Upgrades Oceaneering International (NYSE:OII) to Buy

Oceaneering International (NYSE:OII) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, Barclays dropped their price objective on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th.

Oceaneering International Stock Performance

OII opened at $22.60 on Thursday. Oceaneering International has a 12-month low of $14.99 and a 12-month high of $27.46. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.29 billion, a PE ratio of 23.79 and a beta of 2.49. The firm has a 50 day moving average of $22.31 and a two-hundred day moving average of $21.81.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Oceaneering International had a return on equity of 14.00% and a net margin of 4.02%. The business had revenue of $654.60 million for the quarter, compared to analysts’ expectations of $624.81 million. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, analysts anticipate that Oceaneering International will post 1.54 EPS for the current year.

Institutional Investors Weigh In On Oceaneering International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of Oceaneering International by 27.0% during the 3rd quarter. Invesco Ltd. now owns 1,202,565 shares of the oil and gas company’s stock worth $30,930,000 after purchasing an additional 256,036 shares during the period. FMR LLC grew its stake in shares of Oceaneering International by 18.9% during the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after purchasing an additional 705,534 shares during the period. Hennessy Advisors Inc. grew its stake in shares of Oceaneering International by 541.1% during the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after purchasing an additional 829,000 shares during the period. Bank of New York Mellon Corp grew its stake in Oceaneering International by 79.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock valued at $42,704,000 after acquiring an additional 734,518 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Oceaneering International in the 3rd quarter valued at $629,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.