Oceaneering International (NYSE:OII) Cut to Hold at Zacks Research

Zacks Research cut shares of Oceaneering International (NYSE:OII) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

OII has been the subject of several other reports. TD Cowen increased their price objective on Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Finally, Barclays upped their price target on shares of Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Oceaneering International currently has an average rating of “Hold” and a consensus target price of $30.33.

Oceaneering International Stock Down 0.8%

Oceaneering International stock opened at $34.18 on Thursday. Oceaneering International has a twelve month low of $15.46 and a twelve month high of $39.00. The company has a current ratio of 1.99, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.40 billion, a P/E ratio of 9.77 and a beta of 1.18. The stock’s fifty day simple moving average is $30.61 and its 200-day simple moving average is $26.45.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $668.57 million during the quarter, compared to analysts’ expectations of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. As a group, equities analysts expect that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the completion of the transaction, the senior vice president directly owned 52,344 shares in the company, valued at approximately $1,379,264.40. This trade represents a 35.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karen H. Beachy sold 9,800 shares of Oceaneering International stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $366,618.00. Following the transaction, the director owned 22,816 shares of the company’s stock, valued at approximately $853,546.56. The trade was a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 140,844 shares of company stock worth $4,972,594. Insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

Large investors have recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new position in shares of Oceaneering International during the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Oceaneering International in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares during the last quarter. Quarry LP purchased a new position in Oceaneering International during the third quarter worth $30,000. Finally, SBI Securities Co. Ltd. increased its position in Oceaneering International by 255.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.