Oceaneering International (NYSE:OII) Given New $21.00 Price Target at Barclays

Oceaneering International (NYSE:OII) had its price objective lowered by Barclays from $22.00 to $21.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. Pickering Energy Partners raised Oceaneering International from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 2nd. Citigroup downgraded Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Friday, January 10th. Finally, TD Cowen raised their price objective on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Oceaneering International Stock Performance

Shares of OII stock opened at $17.94 on Monday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 12.46 and a beta of 1.94. The stock has a 50 day simple moving average of $19.72 and a 200-day simple moving average of $24.03. Oceaneering International has a 12-month low of $15.46 and a 12-month high of $30.98. The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $674.52 million during the quarter, compared to the consensus estimate of $651.96 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. On average, equities analysts forecast that Oceaneering International will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Advisors LLC lifted its holdings in Oceaneering International by 4.9% in the 4th quarter. Inspire Advisors LLC now owns 8,848 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 411 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Oceaneering International by 0.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,032 shares of the oil and gas company’s stock valued at $1,853,000 after purchasing an additional 446 shares in the last quarter. LPL Financial LLC lifted its holdings in Oceaneering International by 0.8% in the 4th quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company’s stock valued at $1,467,000 after purchasing an additional 451 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Oceaneering International by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 584 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Oceaneering International by 29.7% in the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 711 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.