Oceaneering International (NYSE:OII) Upgraded at Wall Street Zen

Oceaneering International (NYSE:OII) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a research report on Monday. Barclays boosted their target price on Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. TD Cowen raised their price target on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Citigroup upped their price objective on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

Oceaneering International Trading Up 3.3%

NYSE:OII opened at $24.83 on Friday. The company has a fifty day moving average of $24.37 and a 200 day moving average of $23.38. Oceaneering International has a 52 week low of $15.46 and a 52 week high of $28.31. 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 firm has a market capitalization of $2.48 billion, a P/E ratio of 10.84 and a beta of 1.24.

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

Institutional Trading of Oceaneering International

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Oceaneering International by 94.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock valued at $18,930,000 after acquiring an additional 371,586 shares during the period. Tudor Investment Corp ET AL increased its stake in shares of Oceaneering International by 210.8% during the third quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock valued at $12,190,000 after purchasing an additional 333,666 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Oceaneering International during the third quarter valued at approximately $248,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Oceaneering International during the third quarter valued at approximately $28,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $471,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.