Oceaneering International, Inc. (NYSE:OII) Given Average Recommendation of “Hold” by Analysts

Shares of Oceaneering International, Inc. (NYSE:OII) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $33.6667.

Several analysts have recently weighed in on OII shares. Citigroup raised their price objective on shares of Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Zacks Research cut Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Barclays lifted their price target on Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd.

Insider Buying and Selling

In other news, SVP Earl Childress sold 22,518 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total value of $842,398.38. Following the completion of the sale, the senior vice president owned 35,577 shares of the company’s stock, valued at approximately $1,330,935.57. This represents a 38.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen H. Beachy sold 9,800 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $366,618.00. Following the transaction, the director directly owned 22,816 shares in the company, valued at approximately $853,546.56. This represents a 30.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,844 shares of company stock worth $4,972,594 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

Several institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its holdings in shares of Oceaneering International by 297.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,069 shares of the oil and gas company’s stock worth $74,000 after buying an additional 2,296 shares during the period. Corient Private Wealth LLC boosted its holdings in Oceaneering International by 21.7% during the 4th quarter. Corient Private Wealth LLC now owns 12,600 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 2,245 shares during the period. State of Tennessee Department of Treasury grew its position in Oceaneering International by 7.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 52,577 shares of the oil and gas company’s stock worth $1,263,000 after acquiring an additional 3,533 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Oceaneering International during the 4th quarter worth approximately $630,000. Finally, Mackenzie Financial Corp increased its stake in Oceaneering International by 9.1% in the 4th quarter. Mackenzie Financial Corp now owns 15,246 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 1,275 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Stock Down 2.0%

OII opened at $33.87 on Thursday. The firm has a market capitalization of $3.37 billion, a P/E ratio of 9.68 and a beta of 1.18. Oceaneering International has a one year low of $15.46 and a one year high of $39.00. The company has a fifty day moving average price of $32.16 and a 200-day moving average price of $27.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72.

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

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.