TD Cowen Forecasts Strong Price Appreciation for Oceaneering International (NYSE:OII) Stock

Oceaneering International (NYSE:OII) had its price objective raised by stock analysts at TD Cowen from $26.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s target price suggests a potential downside of 0.30% from the stock’s current price.

A number of other research firms also recently commented on OII. Benchmark restated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $22.00 to $26.00 in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.75.

Oceaneering International Stock Down 3.0 %

NYSE:OII opened at $27.08 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $27.19 and a 200-day moving average of $26.06. The firm has a market capitalization of $2.74 billion, a PE ratio of 20.52 and a beta of 2.41. Oceaneering International has a 52 week low of $18.95 and a 52 week high of $30.98.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm had revenue of $679.81 million for the quarter, compared to analyst estimates of $693.69 million. During the same period last year, the firm posted $0.38 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Analysts predict that Oceaneering International will post 1.4 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Oceaneering International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock worth $668,000 after acquiring an additional 540 shares in the last quarter. Captrust Financial Advisors boosted its position in Oceaneering International by 3.9% during the third quarter. Captrust Financial Advisors now owns 15,271 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 578 shares during the period. HighTower Advisors LLC grew its holdings in Oceaneering International by 6.3% during the third quarter. HighTower Advisors LLC now owns 11,616 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 687 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in Oceaneering International by 12.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,850 shares of the oil and gas company’s stock valued at $205,000 after purchasing an additional 840 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Oceaneering International by 9.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,500 shares of the oil and gas company’s stock valued at $272,000 after purchasing an additional 1,013 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Company Profile

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.