Oceaneering International (NYSE:OII) Price Target Raised to $23.00 at Barclays

Oceaneering International (NYSE:OII) had its price objective hoisted by Barclays from $22.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Oceaneering International in a research note on Wednesday, October 8th. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup boosted their price objective on Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, Oceaneering International currently has an average rating of “Hold” and an average price target of $25.00.

Oceaneering International Price Performance

NYSE:OII opened at $23.17 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $24.04 and its two-hundred day simple moving average is $21.60. The stock has a market cap of $2.31 billion, a PE ratio of 10.12 and a beta of 1.50. Oceaneering International has a 52 week low of $15.46 and a 52 week high of $30.98.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.13. The business had revenue of $742.90 million for the quarter, compared to analysts’ expectations of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. As a group, analysts forecast that Oceaneering International will post 1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total transaction of $361,502.40. Following the completion of the sale, the chief financial officer owned 155,259 shares in the company, valued at $3,782,109.24. This represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Oceaneering International

A number of hedge funds have recently bought and sold shares of OII. GAMMA Investing LLC lifted its holdings in Oceaneering International by 29.7% during the first quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock worth $68,000 after buying an additional 711 shares during the period. Diversified Trust Co acquired a new position in shares of Oceaneering International during the first quarter worth $299,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Oceaneering International by 62.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,675 shares of the oil and gas company’s stock worth $604,000 after purchasing an additional 10,628 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Oceaneering International by 49.8% during the first quarter. Teacher Retirement System of Texas now owns 30,508 shares of the oil and gas company’s stock worth $665,000 after purchasing an additional 10,148 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Oceaneering International by 2.3% during the first quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company’s stock worth $11,761,000 after purchasing an additional 12,085 shares in the last quarter. Hedge funds and other institutional investors 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.